• By The Financial District

90% Of Japan's Dairy Farmers Battered By Weaker Yen, Pandemic

According to a poll conducted by the Japan Dairy Council, more than 90% of Japan's dairy farmers reported financial difficulties in the previous year as a result of the weaker yen driving up livestock prices coupled with decreased demand for produce amid the coronavirus outbreak, the Yomiuri Shimbun reported.


Photo Insert: In terms of business performance in the previous month, 65.5 percent of respondents reported losses.



The online survey was conducted by the Tokyo-based group from June 9 to 14, and it received replies from 197 dairy producers across the country. Poll results confirmed that rising prices for animal feed and fuel oil as a result of the yen's depreciation and the situation in Ukraine have harmed business operations.


According to the study, 92.4 percent of respondents claimed their respective businesses had experienced financial challenges in the previous year.



In terms of business performance in the previous month, 65.5 percent of respondents reported losses.


When asked to identify reasons for the deterioration, 89.8 percent of respondents named the weaker yen, followed by 85.3 percent who mentioned the Ukraine conflict and 84.3 percent who mentioned high oil prices.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

The survey also confirmed that 70.6 percent of respondents blamed the pandemic for the reduction in demand for dairy products, while 48.2 percent cited the suspension of milk servings in school lunches. If the existing business situation remains constant, 55.8 percent of respondents claimed they would be unable to continue dairy farming.



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