Pork prices in China fell for the fourth consecutive week during
the week from Aug. 27 to Sept. 2 amid government efforts to
increase supply, according to the Ministry of Commerce.
Wholesale prices of pork dropped 2.8 percent from a week
earlier, forcing down prices of edible farm products in the country
by 0.3 percent.
Among the 31 major cities monitored by the ministry, 19 saw pork
prices decline, while seven reported continued price hikes, with
prices in Hefei, Changchun and Hohhot surging more than 10
percent.
Pork prices were unlikely to drop drastically for the rest of
the year due to rising demand and mounting production costs,
predicted the ministry.
Egg prices will probably go up as the Mid-Autumn Day and
National Day holidays approach.
In the past one year pork prices almost doubled, pushing up the
consumer price index, China's key inflation indicator to a 33-month
high of 5.6 percent in July.
The index might be even higher in August, said Bi Jingquan, vice
minister in charge of the National Development and Reform
Commission, though he believed the inflation was still under
control and the factors leading to the recent price hikes were
temporary.
During the week ended Sept. 2, egg prices dipped 0.3 percent
from the previous week, aquatic products fell 0.6 percent, while
vegetables declined 0.5 percent.
Prices of beef and mutton, however, rose 0.3 percent and 1.8
percent, respectively. Prices of edible oil and grain continued to
climb as market demand remained strong.
(Xinhua News Agency September 6, 2007)
