Pork prices continue to drop during holiday

CHINA - The average pork price has dropped 0.4 percent during China's National Day holiday, or the "golden week", said the Ministry of Commerce (MOFCOM) on Sunday.
calendar icon 8 October 2007
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The average live pig price dropped to 13.25 yuan per kilogram this week, 0.9 percent lower than that in the previous week. Prices of chicken, eggs, beef and mutton rose slightly on increasing demand during the holidays.

The prices have seen a consecutive drop for the ninth week, right after they plunged 3.45 percent from the end of August last week, as the piglets raised since May and June grew ready for the market to add to the pork supply.

Pork prices nearly doubled in the past eight months due to short supply and mounting production costs. The soaring pork prices is a major contributor to the general food price hikes that drive up the consumer price index to a 6.5 percent increase in August.

The average wholesale price of 20 kinds of vegetables rose 2.4 percent because rainy weather in northern regions and ravaging typhoons in the southern areas reduced market supply, said the ministry.

Source: China.org.cn

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