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Chinese Food Prices Keep Falling

05 April 2013

CHINA - Prices of agri-foodstuff fell for the sixth consecutive week in 36 medium and large sized cities in China according to monitoring by the Ministry of Commerce (MOFCOM).

The prices of meats fell in last week compared to the previous week.

The wholesale price of pork fell by 1.1 per cent compared to that of previous week and was down by 10 per cent on an accumulative basis over the previous six weeks.

Of these, the price of pork in Nanning, Tianjin and Hangzhou fell by 4.6 per cent, 4.4 per cent and 3.6 per cent respectively.

The wholesale prices of mutton and chicken fell by 0.2 per cent and 0.1 per cent respectively and wholesale price of beef remained unchanged compared to that of previous week.

The retail price of eggs was down by 0.4 per cent compared to that of the previous week and the price has kept falling for six consecutive weeks with an accumulative decrease of 2.8 per cent.

The price of eggs in Wuhan, Shenzhen and Hohhot was down by two per cent, 1.9 per cent and 1.9 per cent respectively.

The average wholesale prices of eight kinds of aquatic products were down by 0.1 per cent as compared with that of the previous week, of which small yellow croaker and large yellow croaker fell by the largest margin of 0.8 per cent and 0.4 per cent respectively.

The prices of grass carp and carp increased by 0.5 per cent and 0.1 per cent respectively due to the decreased supply.

Retail prices of grain and edible oil remained basically stable with a slight increase, of which small package of flour, peanut oil and rapeseed oil rose by 0.2 per cent, 0.1 per cent and 0.1 per cent compared to those of previous week.

Small package of rice and soybean oil prices remained unchanged compared to those in the previous week.

The wholesale prices of 18 vegetables were down by one per cent compared to those of the previous week, and the major drops in price were for cucumber, celery and onion, down by 14.3 per cent, 8.7 per cent and 3.1 per cent respectively.

ThePigSite News Desk

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