August 3, 2011

China's wholesale pork prices in the week to July 31 fell 0.5% from a week earlier, marking a second consecutive decline after falling 0.2% the previous week, the Ministry of Commerce said Tuesday (Aug 2).

The decrease was the largest since the week to December 12 last year, when prices declined 0.6%, the ministry's pork price monitoring system showed.

Wholesale pork reached a record RMB26.15 (US$4.06)/kg in the week to July 17 and fell to RMB26.11 (US$4.05) in the week to July 24, the ministry's data showed.

According to reports, the average price fell to RMB25.98 (US$4.03)/kg last week.

High pork prices are considered a major factor in keeping China's consumer-price inflation at elevated levels recently.