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Chinese Pork Prices Fall

10 August 2016

CHINA - Chinese farm produce prices declined last week, mainly due to the drop in meat prices, the Ministry of Commerce reported.

Last week, prices of pork, beef and mutton retreated 0.3 per cent, 0.1 per cent and 0.9 per cent from one week earlier, respectively, according to the ministry website.

Vegetable prices edged down last week, reversing recent upward trend. The average price of 30 types of vegetable dipped 0.3 per cent, compared to an increase of 1.5 per cent a week earlier, reports Xinhua News Agency.

Prices of fish, eggs and chicken all fell. Grain prices were unchanged, while rapeseed oil edged up 0.1 per cent.

Food prices account for one-third of the calculation of China's consumer price index (CPI).

This year's target consumer price growth is set at 3 per cent, the same as in 2015. China's CPI rose 1.9 per cent in June, down from the 2 per cent growth rate registered in May.

ThePigSite News Desk

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