Japan: MAFF 2018 Budget Proposal Shifts Spending to Income Insurance

Japan’s Ministry of Agriculture, Forestry and Fisheries (MAFF) has requested 2.65 trillion yen (roughly US$24 billion) for the Japan Fiscal Year (JFY) 2018 budget, a 15 percent increase over last year. The budget request eliminates the direct payment subsidy for table rice production, but requests significant funding for a new income insurance program, agricultural export promotion and underwriting goals to expand domestic potato production. 

Japan: MAFF 2018 Budget Proposal Shifts Spending to Income Insurance