July 27, 2011

 

Weekly pork prices start to drop in China
 

 

China's weekly pork prices showed a 0.2% decline last week, the first such drop since early April, according to the Ministry of Commerce.

 

The data was in line with weekly National Bureau of Statistics data showing that climbing prices for pork hindquarter had flattened to just over RMB30 (US$4.65)/kg over the past two weeks, following a steady climb beginning at the start of the year. In May 2010, prices were below RMB17 (US$2.64)/kg.

 

Should pork price gains lose steam and begin to soften, continued monetary policy tightening and weaker commodity prices should be able to draw some of the heat out of China's inflation picture, analysts said, adding that inflation looks near its peak for the year.

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