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China's Farm Produce Prices Rise Slightly

Sustainability Economics +3 more

CHINA - The prices of farm produce in 36 major Chinese cities rose slightly in the week ending 20 October compared with the week earlier, a Ministry of Commerce statement said.

The average wholesale prices of 18 kinds of vegetables rose 1.8 per cent from a week earlier with the prices of ginger, tomatoes and beans increasing 7.6 per cent, 6.4 per cent and 5.4 per cent, respectively.

The average wholesale prices of aquatic products, however, dropped 0.1 per cent and the prices of eggs shrank 0.5 per cent from the previous week.

The cost of mutton went up 0.1 per cent, beef prices maintained the same, and pork prices dropped 0.4 per cent compared with last week.

The rise in the cost of vegetables was because of the temperature drop in certain areas, resulting in reduced supply which pushed prices up.

Food accounts for about one third of China's consumer price index (CPI), a main gauge of inflation.

The CPI rose 3.1 per cent year on year in September, up from 2.6 per cent in August.

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