November 12, 2007

 

Egg prices up 32 percent in Shandong's Rizhao

 

 

Egg prices in Rizhao, prefecture level city in Shandong Province rose 32 percent during the first three quarters of this year, according to the latest information released by the agriculture department of the city.

 

Rizhao City's CPI increased by 3.5% year-on-year in the first nine months of 2007, 0.4 percentage points lower than the Province's overall average.

 

Prices of poultry products rose 28.1 percent while vegetable prices rose nearly 13 percent.

 

As food consumption accounts for a large proportion of consumer spending, the food price significantly affects the overall commodity price with an effectiveness rate of 92 percent.

 

Meanwhile, in Yichang, a prefecture-level city in Hubei province, CPI soared by 105.7 percent on-year in October, according to the Municipal Price Monitoring Centre.

 

Pork prices in the downtown areas of the City remained high in October, with the retail price of pork chops at RMB21.4/kg, up by RMB 8.4/kg on-year, an increase of 64.6 percent.

 

However, unlike Rizhao, prices of eggs actually dropped slightly

 

Prices of free-range eggs and caged eggs was at RMB12.2/kg and RMB7.24/kg respectively, dropping by RMB0.3/kg and RMB0.4/kg on-year.

 

Fish prices also saw a drop - crucian carp was at RMB 11/kg, dropping RMB 1/kg while grass carp prices remained unchanged on-month.

 

(US$1 = RMB 7.4)