November 30, 2007

China's pork prices rise in seven weeks

Chinese market monitors noted that pork prices have risen consecutively for seven weeks.

Chinese Ministry of Commerce announced yesterday, that edible oil and meat prices have increased last week, during the period from November 19 to November 25.

Since November, the prices of edible oil have been rising steadily, increasing by 0.3 percent, 1.2 percent and 1.9 percent in the last three weeks respectively.

Last week, meat prices increased with the rise of consumer demand, where wholesale prices of pork increased by 2 percent over the previous week.

Meanwhile, prices of beef and mutton have increased by 0.7 percent and 1.4 percent respectively. Market monitoring also indicated that grain prices went up last week.