May 27, 2008

China's wholesale pork prices decline in five weeks

China's pork wholesale prices averaged RMB21.46 per kilogramme in major large-and-medium-sized cities during the week from May 12 to 18, down 1.7 percent over the previous week.

The Department of Market Operation Regulation under China's Ministry of Commerce said it was for the fifth consecutive week that pork wholesale prices slipped slightly.

The drop in pork prices was attributed to factors such as the comeback in live pig breeding and a drop in pork consumption, the department explained.

Retail prices of selected pork pieces averaged RMB29.36 per kilogramme, falling 0.3 percent, while retail prices of pork belly was RMB24.9 per kilogramme, sliding 0.3 percent, the department added.

Pork prices fell 3.0 percent and 1.5 percent in Shanghai and Beijing, the department stated.

US$1 = RMB6.94 as of May 27, 2008