June 11, 2008

China pork prices seen to drop further

China's Ministry of Agriculture reported that the pork wholesale price has been dropping for 7 consecutive weeks.

Pork was RMB21 (US$3.03) per kilogramme, down 2.5 percent compared with a week ago.

The ministry further expects pork prices to weaken after the 3-day Dragon Boat Festival.

China's other farm produce prices are also stabilizing. Among 300 items monitored by the ministry, half of them showed a price drop.