January 21, 2013

China's Nov-Dec pork prices up 10%

China's pork prices increased by over 10% in November-December 2012.

This is according to a news agency's price system on national farm produce.

All provinces, regions and municipalities saw rises, except Hainan, according to data collected between November 19 and January 19.

Shandong led the way with an 18.2% rise in pork prices. Shanxi, Liaoning, Henan, Hubei and Shaanxi saw rises of more than 15%. Pork is a staple meat in China.

The country has experienced its lowest temperatures in 28 years since the end of November, which has affected the production and transportation of farm produce.

Food prices account for almost a third of the weighting in the country's calculation of the consumer price index (CPI), the key gauge of inflation.

China's CPI grew 2.5% on-year in December, the fastest since June.