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Aquatic Product Prices Fall Week On Week

Economics +1 more

CHINA - Aquaculture product prices dropped by 0.1 per cent during the week ending 31 July.

This marked a second week of decline, according to the Ministry of Commerce (MOC).

An official source reports that the decline was 0.3 percentage points higher than that of the previous week ending 24 July, which marked the first such drop in three months.

Wholesale prices for eight types of aquatic products dropped by 0.1 per cent week-on-week as well.

High pork prices have become a significant concern, as the consumer price index, a main gauge of inflation, shot up to a three-year high of 6.4 per cent in June, driven by surging food prices.

Data from the National Bureau of Statistics showed that pork prices in June surged by 57.1 per cent year-on-year.

Egg prices saw an 0.8 per cent week-on-week increase last week, with the MOC forecasting that egg prices will peak in September, as summer temperatures have had an effect on egg output.