China Farm Produce Prices Continue Rising

by 5m Editor
26 January 2011, at 12:24am

CHINA - Chinese farm produce prices rose for a fourth consecutive week, through 23 January, the Ministry of Commerce said Tuesday.

One reason for the price hike was that freezing weather in southern China had affected vegetable production and transportation, the ministry said in a statement on its website.

The wholesale prices of 18 staple vegetables grew 12.6 per cent week on week. Also, the prices of green peppers, cucumbers, chilli peppers and bean pods rose by at least 10 per cent.

As the Spring Festival draws near, the demand for meat and eggs increased, while enterprises have been stockpiling supplies and large purchases have expanded.

Egg prices climbed 1 per cent week on week and beef prices went up 0.8 per cent, while pork prices increased 0.7 per cent and chicken prices were up 0.2 per cent.

Last year, rising food prices pushed up China's consumer price index (CPI), the major gauge of inflation. China's CPI hit 3.3 per cent in 2010, compared with the government's target ceiling of 3 per cent, the National Bureau of Statistics said on 20 January.