September 7, 2011

China's pork prices rose 0.4% during the week ending September 2 as upcoming holidays fanned demand, according to the Ministry of Commerce (MOC).

The increase was 0.1 percentage point higher than that of the previous week ending Aug 28, marking the fourth straight week of rises, according to a statement by the MOC.

High pork prices, which surged by nearly 57% in July, have become a major concern in the country. July's inflation data hit a 37-month high of 6.5%, largely driven up by food prices.

Food processing enterprises have increased purchases of meat and eggs in preparation for the upcoming Mid-Autumn Festival which lasts from September 10 to 12 as well as the week-long National Day holiday that begins on October 1, the MOC said.

Beef and egg prices rose by 1% and 0.4%, respectively, last week, while mutton and chicken prices inched up 0.3% and 0.2%, respectively.

Meanwhile, 18 staple vegetables saw an increase of 1.5% in wholesale prices last week, down 4.6 percentage points from the previous week. Wholesale prices of eight types of aquatic products stood unchanged on-week due to sufficient supplies.