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Japan, the world’s biggest corn importer, is set to increase floor prices for domestic meat for a second time this year and boost subsidies to livestock farmers after prices of the grain soared to a record.

The floor price for locally produced pork would rise 5.3 percent to ¥400 a kilogram in July from ¥380. The base price for beef would climb 3.2 percent to ¥815 from ¥790, the Agriculture, Forestry and Fisheries Ministry proposed Thursday at a panel meeting.

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