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U.S. craze for bioethanol pushes up corn, hurting dairy farms in Japan
JAPAN - This spring, Japan will see its first milk price hike in 30 years. In addition, the dairy industry is reeling under increased feed costs. Blame it all on soaring crude oil prices.
(RIE KOWAKA).
It is a convoluted trail. The recent $95 per barrel oil has spurred a global frenzy to produce alternatives to gasoline.
Bioethanol, made from renewable vegetation containing sugars, such as corn or other crops, is the leading candidate fuel.
Thus, corn prices are surging worldwide.
As a result, dairy farms in Japan are reeling under a 20-percent jump compared to autumn a year ago in the price of imported livestock feed, of which a key ingredient is corn.
That led milk producers to announce on Dec. 10 a 3-percent hike in milk prices, the first here in 30 years.
An official at the Japan Dairy Council, a federation of dairy farmers' organizations, warns that more than 1,000 dairy farms nationwide may be forced to close down before March.
According to the Ministry of Agriculture, Forestry and Fisheries, there were 25,400 dairy farms across Japan in February 2007.
Source: Asahi.com
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