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China Farm Produce Prices Still Rising

Economics +1 more

CHINA - Pork prices rebounded recently, up 0.7 per cent last week, after falling for several months, as the country's pork stockpiling policy helped boost market demand, Shen said at a regular briefing.

China started stockpiling frozen pork in April to help stabilize prices and stem losses by pig producers.

Due to booming demand, shrinking supplies and climbing production costs, prices of edible oil and aquatic products rose slightly last week. Retail prices of peanut oil increased 0.3 per cent week-on-week, while the wholesale prices of aquatic products gained 0.7 per cent.

Shen Danyang, spokesman for the Ministry of Commerce, said prices of garlic and eggs have begun falling. "The ministry has always attached great importance to the dramatic fluctuations of farm produce prices, and will try to solve the boom-bust problem in agriculture as soon as possible," he added.

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