June 25, 2008

China reports stable prices for poultry in latest week

China shows a downward trend in chicken prices since mid-April, with egg prices also stabilizing, the Ministry of Commerce said Tuesday (June 25, 2008).

Prices for pork also weakened during the period, except for the week ended on June 8, when prices rose due to higher consumption attributed to the Dragon Boat festival.

The ministry conducts a weekly survey that covers prices for 58 categories of agricultural products in 36 major Chinese cities.

A surge in the cost of food, which makes up one-third of the consumer price index, has been the driving force behind a spike in China's inflation, running just below a 12-year high.