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China's Farm Produce Prices Slightly Up

19 June 2013

CHINA - The prices of farm produce in 36 major Chinese cities slightly climbed last week, according to new official data.

The Ministry of Commerce said in an online statement that the prices of rice and peanut oil gained 0.2 per cent and 0.1 per cent, respectively, last week, while the average wholesale prices of 8 aquatic products rose 1.2 per cent from a week earlier.

The price of eggs grew 0.1 per cent week on week, as the impact of the H7N9 bird flu has gradually waned.

Meanwhile, the price of pork, the country's staple meat, dropped 0.2 per cent last week after rising for three consecutive weeks, while the wholesale prices of 18 vegetables dipped 0.3 per cent, the ministry said.

Food prices account for about one-third of the prices used to calculate China's consumer price index, a main gauge of inflation.

China's CPI growth slowed to 2.1 per cent in May.

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