September 14, 2006

China's August grain prices rise 3.4 percent  

China's August grain prices rose 3.4 percent from a year earlier on average, the central bank said Thursday (Sept 14).

In a statement on its website, the People's Bank of China said prices for rice rose 4.6 percent on-year in August but were unchanged on month, while those for corn jumped 6.1 percent on year but declined 0.1 percent from a month earlier.

Sugar prices increased 12.2 percent on year but fell 5.8 percent on month. Prices for sugar crops, including sugar cane and beet, increased 39.7 percent on year, the central bank added.

The PBOC provided no reason for the price changes.

Across China last week, prices for corn were around RMB1,200- RMB1,430/tonne.