29-05-2025
Basic economic policy draft seeks to boost rice farm production
With Japan mired in a rice crisis, the government is considering revising rice farming policies to increase production in its basic economic policy for the next fiscal year, which the Cabinet is scheduled to approve in June, sources said on May 28.
The draft of the 'Basic Policy on Economic and Fiscal Management and Reform 2025,' released that day, states that the government will 'review rice farming policies and develop specific measures' to address soaring prices and shortages.
The government will revise its policies to 'support farmers who are actively working to enhance their production efficiency and to ensure a stable food supply through increased productivity,' according to the draft.
The plan includes drafting measures to increase rice production for overseas markets, revising measures to facilitate farmland consolidation and introducing measures that will support new farmers and secure their businesses.
The draft also mentions creating new production areas for rice that will be exported with the goal of increasing the country's agricultural, forestry and fishery exports to 5 trillion yen ($34 billion) by 2030.
Previous government policies have resulted in continued rice field reductions and decreased rice production, contributing to the insufficient supply and skyrocketing rice prices.
However, Prime Minister Shigeru Ishiba has been expressing a desire to increase rice production and exports. The basic economic policy appears to reflect the Ishiba administration's intentions.
The draft also includes plans to revive Japan's shipbuilding industry.
'In order to strengthen maritime clusters centered on marine shipping and shipbuilding industries, we will work to significantly strengthen supply chains, including cooperation between Japan and the United States.'
According to government sources, Japan proposed a policy of reviving the U.S. shipbuilding industry during Japan-U.S. negotiations on the U.S. tariff hikes.
The Japanese government is apparently aiming to cooperate with the United States in shipbuilding by promoting the revitalization of its own shipbuilding industry.
The government's annual Basic Policy on Economic and Fiscal Management and Reform, also known as 'Honebuto no hoshin,' outlines basic ideas for allocating the budget for the next fiscal year.
The government is currently finalizing the contents of the policy, which it aims to get approved at a Cabinet meeting in June.
