China's Farm Produce Prices Edge Down

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China's Farm Produce Prices Edge Down

17 October 2012

CHINA - Farm produce prices in 36 large and medium-sized cities in China fell due to a large amount of supplies, the Ministry of Commerce (MOC) said Tuesday.

Last week, the wholesale price of 18 types of vegetables dropped 5.5 per cent from a week earlier, according to the ministry.

Prices of cabbages, radishes and lettuces declined 19 per cent, 14.1 per cent and 12.2 per cent, respectively.

The retail price of eggs dropped 0.7 per cent, down for the first time since July, the MOC said.

Wholesale prices of eight kinds of aquatic products fell slightly, and retail prices of cooking oils saw slight fluctuations.

The wholesale price of pork remained steady, while prices of mutton and beef went up slightly week-on-week.

Food prices account for 30.49 per cent of the weighting in the nation's calculation of the consumer price index (CPI), the key gauge of inflation.

The CPI rose 1.9 per cent year-on-year in September, easing from two per cent in August, according to the country's statistics authority.