April 14, 2012

China's farm produce prices drop for third week

The prices of major farm produce in China monitored by MOFCOM dropped in three successive weeks last week (April 2-8), whereas price of material for production was unchanging.

The prices of eight aquatic products dropped 0.3% over the last week, of which small cutlass fish, carp and big cutlass fish saw a decrease of 1.7%, 1.2% and 0.6%, respectively.

The retail price of eggs dropped 0.2%, 7.6% lower than in the beginning of this year. The prices of eggs in Beijing, Guangzhou and Tianjin dropped 13.6%, 13.4% and 11.9%.

The prices of meat fluctuated slightly, wherein pork dropped in 10 consecutive weeks, 1.2% lower than that of last week, 12.5% lower than that of the end of January, while the prices of pork in Shanghai, Beijing and Chongqing dropped 26.1%, 24% and 15.8% respectively. The price of chicken was down by 0.1% while that of beef and mutton were up by 0.8% and 0.5%.

The retail prices of grains grew steadily, of which rice was stable while that of wheat flour was up by 0.2%. Due to the increasing prices and increasing imported costs, the retail prices of edible oil rose, of which rapeseed oil, soyoil and peanut oil were up by 0.3%, 0.2% and 0.1%.