October 8, 2007

Pork prices continue to drop during China's week-long holiday
 

Pork prices continued to drop even as China went on a week-long National Day holiday, according to the Ministry of Commerce.

The average pork price has dropped 0.4 percent during the week, the Ministry said.

The average live pig price dropped to RMB 13.25 per kilogramme this week, 0.9 percent lower than that in the previous week.

Prices of chicken, eggs, beef and mutton rose slightly on increasing demand during the holidays.

Pork prices have been sliding for the past two months, with a 3.45-percent drop seen from the end of August to early October.

Pork prices nearly doubled in the past eight months due to short supply and mounting production costs.

Soaring pork prices drove up the consumer price index to a 6.5 percent increase in August, prompting authorities to scramble to carry out measures to cool prices down.

Prices of grain, flour and edible oil remained stable during the holidays, according to the ministry.