Japan-Concern over meat prices.

JAPAN-Japan recession raises food cost concerns

With declining wages and worsening unemployment, Japanese consumers have become more price-conscious, yet their desire for safe food remains strong.

Respondents to the Japan Finance Cooperation (JFC – owned by the Japanese government) consumer surveys – conducted in December 2008 – rated ’cost of food’ as their prime concern (35%), followed by ’health benefits’ (33%) and ’safety’ (32%). Concerns about costs increased by eight percentage points from the previous two surveys (January and May 2008). ’Safety’ decreased nine percentage points from May results, but was still 11 percentage points higher than in January 2008.

For Japanese consumers who are both price and safety conscious, food products from the Oceania region – namely Australia and New Zealand – were held in high regard. In the same JFC survey, food from Australia and New Zealand was seen as ’affordable’ and ’safe’, compared to perceptions noted for China and the US (whose products were deemed ’affordable’ but had ’concerns with safety’).

The JFC survey did not explore Australian beef in particular. However, according to a recent consumer research conducted by MLA, 74% of respondents agreed that Australian beef is safe, and 70% thought Australian beef is value for money.