Japan’s Ministry of Agriculture, Forestry and Fisheries (MAFF) announced Tuesday that it will increase its sale price for imported wheat to the private sector by 3.5% from April 1. A rise in global wheat prices, freight rates, and a further depreciation of the yen against the dollar behind the increase. As a result, the weighted average selling price for the five varieties sold is JPY 54,370/mt ($513.25/mt), up 3.5% from the current price of JPY 52,510/MT. About 90% of Japan’s 6 million mt of annual wheat demand comes from overseas, with foreign wheat exclusively imported by the government and sold to the private sector at a fixed price which can be changed up to twice a year.