Farm Produce Prices Begin to Fall12 September 2012
CHINA - The price of farm produce monitored by MOFCOM began to fall in 36 medium-and-large sized cities last week according to the Chinese Ministry of Commerce and price of material for production fell further.
The wholesale price of eight aquatic products were down by 0.2 per cent, of which the price of freshwater fish was widely on the fall and crucian carp, grass carp, carp and silver carp were down by 1.8 per cent, 1.7 per cent, 0.2 per cent and 0.2 per cent respectively.
Retail price of grain and oil maintained a steady rise, of which peanut oil, rapeseed oil and soybean oil were up by 0.4 per cent, 0.2 per cent and 0.2 per cent respectively compared with that of the previous week.
The price of rice rose by 0.2 per cent, while wheat flour remains unchanged.
The wholesale price of meat saw a slight rise, of which the price of pork rose by 0.6 per cent as compared with that of the previous week, down by 22.6 per cent year-on-year.
Pork price in Changsha, Shanghai and Nanjing rose by 1 per cent, 0.3 per cent and 0.2 per cent respectively compared with that of the previous week, beef, lamb and chicken were up by0.7 per cent, 0.1 per cent and 0.1 per cent respectively.
The growth speed of retail price of eggs declined, rising by 1.3 per cent, 1.7 percentage points lower compared with that of the previous week, and down by 2.5 per cent year-on-year, and the price of eggs in Beijing, Nanjing and Changchun were up by 2.9 per cent, 2.2 per cent and 1.4 per cent respectively.
The wholesale prices of 18 vegetables fell by 2.7 per cent, of which cucumber, rape and lettuce were down by 13.7 per cent, 12.8 per cent and 7.6 per cent respectively.
Of major material for production, the prices of mineral products, steel, energy resource, non-ferrous metal, building materials and material for agricultural production fell, while chemical products, rubber and materials for light industry rose.
The prices of energy resource were down by 0.9 per cent, both coal and coke dropped by 2.7 per cent, while crude oil rose by 5.8 per cent.
The price of material for agricultural production dropped by 0.1 per cent owing to lower season for fertilizer, with reduced demand, of which the price of urea decreased by 0.7 per cent over the previous week, with an accumulative decrease of 6.3 per cent.