Japan Entry in Trade Pact May Open $48 Billion Farm Market

Japan’s participation in a free trade group led by the U.S. could open up the country’s agriculture markets worth $48 billion to foreign exporters of rice, sugar and beef, boosting global prices.

Membership in the Trans-Pacific Partnership could lift sales for Tyson Foods Inc. and Fonterra Cooperative Group Ltd., as participants aim to eliminate import tariffs within a decade, according to Norinchukin Research Institute. Prime Minister Yoshihiko Noda, who risks splitting his party if he supports joining the trade talks, has said markets must be opened to boost the weak economy, which is struggling to recover from the March earthquake and nuclear disaster.