September 19, 2009
Japan's livestock feed prices to drop
Japan's major livestock feed suppliers will reduce product prices by three percent in the fourth quarter of the year.
Market prices of feed grains have dropped recently due to a higher crop prospect in the US, the companies said.
The National Federation of Agricultural Cooperative Associations, the largest livestock feed producer in Japan, said it will lower prices of all of its feed products for domestic animals by an average JPY1,400 (US$15.26) per tonne.
Nosan Corp. and Marubeni Nisshin Feed Co. also announced similar price cuts.
In the third quarter, for which the firms raised livestock feed prices for the first time in three quarters, the prices were around JPY55,000 (US$599.5) per tonne, according to a farm ministry estimate.