June 12, 2007

China's aquaculture product prices seen to rise

In its Commercial Information Forecast released on June 6, China's Commerce Ministry expects near-term stability in pork prices while prices of aquaculture products are seen to rise.

According to the release, as more piglets purchased by farmers at the beginning of the year will be reaching finishing weight, this will have a stabilizing effect on pork prices, at least for the near term.

Due to a recent rise in supplies, the pace of increase in egg prices is expected to slow down slightly. Increased feed costs will, however, continue to provide support for prices of other poultry products.

As prices of chicken broilers remain high, the ministry expects this to result in a shift in demand towards aquaculture products. Prices of aquaculture products are forecast to rise in the near term. 

Meanwhile, domestic prices of edible oils, such as soyoil and rapeseed oil, are seen to remain steady at high levels.

RMB1=US$0.1308 (Jun 12)