Japan: Grain and Feed Update

FAS/Tokyo forecasts that lower corn prices and increased feed demand-driven by the substitution of more expensive rice with corn in feed rations-will boost corn imports in MY2025/26. In contrast, higher domestic rice production is expected to reduce rice imports in MY2025/26. During the first 11 months of MY2024/25, strong demand for affordable rice led to a 14,635 percent increase in private rice imports, reaching 88,706 MT. FAS/Tokyo projects lower barley imports in MY2025/26 due to weaker feed demand resulting from a smaller cattle population. Wheat imports are expected to rise in MY2025/26 because of lower domestic production, while sorghum consumption is projected to continue its moderate decline.