China Farm Produce Prices Drop Again

CHINA - China's farm produce prices fell for a fourth straight week from 21 to 27 May, according to a Ministry of Commerce (MOC) report released on Wednesday.
calendar icon 31 May 2012
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The report attributed the continuous price drop to a sufficient supply of seasonal farm produce.

Egg prices dropped 0.1 per cent from one week earlier and fell 10.2 per cent compared with their level at the beginning of 2012.

The price of pork, a staple meat for Chinese, declined 1.0 per cent from the previous week and retreated 16.5 per cent from the end of January. However, beef and mutton prices respectively edged up 0.4 per cent and 0.1 per cent.

The fall in farm produce prices may help ease domestic inflationary pressures as food prices account for a near one-third weighting in the calculation of China's consumer price index, a main gauge of inflation.

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