Continued Drop in Chinese Food Prices04 March 2014
CHINA - Chinese food prices are continuing to fall according to a survey of 36 large and medium sized cities by the Ministry of Commerce.
The survey take during the week of 17-23 February saw the average wholesale price of 18 vegetables fall by 3.3 per cent compared to the previous week, an accumulated fall of 6.5 per cent for the latest two weeks.
Among the price drops, the prices of bitter gourd, beans and cabbage saw the largest decrease of 13.2 per cent, 10.2 per cent and 8.5 per cent respectively, compared to the previous week.
The wholesale price of meat also saw a fall, with the price of pork going down by 1.4 per cent compared to the previous week, and prices of mutton and beef falling by 0.2 per cent and 0.1 per cent respectively.
The average wholesale price of aquatic products dropped by 0.3 per cent compared to the previous week, with the prices of hairtail, common carp and grass carp standing out with a drop of 1.1 per cent, 0.9 per cent and 0.8 per cent, respectively.
The prices of poultry and eggs stabilised with some decline.
The price of eggs declined by 0.6 per cent compared to the previous week while the price of stripped chicken stayed at the same as the previous week.
The retail prices of grains and oil also stabilised but saw slight volatility.
The prices of small packaged rice, small packaged flour and peanut oil remained almost the same as the previous week but the price of soybean oil fell by 0.1 per cent compared to the previous week, while the price of rapeseed oil rose by 0.1 per cent.
ThePigSite News Desk