Japan to raise handouts to farmers under TPP deal

Tokyo

JAPAN will expand handouts to beef and pork farmers by raising the percentage of losses covered by the government to 90 per cent from 80 per cent now, according to a draft of the policy outline for a Trans-Pacific Partnership (TPP) deal on Tuesday.

The government will also boost purchases of domestic rice for reserve stocks to prevent prices from falling due to new tariff-free import quotas from the United States and Australia under the TPP agreement, the draft seen by Reuters said.