September 13, 2007

China's beef prices up 27 percent on-year

China's beef prices are up 27 percent on-year, according to statistics released by the Ministry of Agriculture Tuesday (September 11).

China's average beef wholesale price was RMB20.66/kg this August, up 8.12 percent compared to July.

Beef prices were higher in Fujian, Shaanxi and Hunan Provinces, at RMB23.67/kg, RMB22.82/kg and RMB22.68/kg respectively.

Lower prices were seen in Sichuan, Shanxi and Henan Provinces, standing at RMB18/kg, RMB19.01/kg and RMB19.12/kg respectively.

Compared to the previous month, Gansu and Shaanxi Provinces saw the sharpest jump in beef prices in August, up 23.8 percent and 19 percent respectively.

(US$1=RMB 0.13)