Farm ministry to hike wheat price by 18%

The Japanese government will raise prices of five major brands of imported wheat for its resale to flour milling companies by an average 18 percent starting in April on rising wheat prices on the international market, it said Wednesday.

The Agriculture, Forestry and Fisheries Ministry said the planned action will bring the average price to 56,710 yen per ton, which could translate into higher retail prices of bread and other wheat products.The move in the next biannual wheat price adjustment will mark the second consecutive hike after an increase of an average 1 percent last October.

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