Most Japanese farmers - like many other key players in the economy - are up in arms about the yen's 20% slide this year, as this slump has inflated costs for imported fuel, fertilizer and other production inputs.
But prospects are different for Japan's exporters of "wagyu" beef, green tea and premium fruits and vegetables. These exporters realize that a weak yen is good for these exports, as it helps make their prices competitive at overseas markets.
The government aims to boost farm exports further to 5 trillion yen by 2030, and a 5 trillion yen target has been set for annual revenue from tourism, which is expected to rebound after Covid-related border restrictions are lifted on October 11.
That would still be relatively modest compared with last year's 83 trillion yen in overall exports and roughly 550 trillion-yen GDP, but marks steady progress for agricultural exports, which totaled just 450 billion yen in 2012.
Source: reuters.com