May household seafood consumption rises 2.2% in Japan, as fears of reaction to tax hike lessen
SEAFOODNEWS.COM by John Sackton July 10, 2014
The Japanese government data on household consumption for May showed an increase of 2.8% for overall food purchases, and an increase of 2.2% for seafood purchases.
This development helps lessen fears that the impact of a 3% increase in the value added tax would decrease consumption of seafood items. Overall food consumption spending was at its highest level in seven years.
Prior to the tax increase in March, there was some advance buying, and in April total purchases were reduced due to the frontloading of purchasing in March. However, for May, Seafood purchases returned to their year earlier levels.
Analysts said higher unit prices..
To Read Full Story Login Below.