China's trade surplus grows to $22 billion in June
- By Matt Velker
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China.org.cn, July 11, 2011
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Pork prices have surged more than 57.1 percent in China over the last year. |
3. Official: Pork prices to stabilize by August
A senior official with China's Ministry of Agriculture predicted prices of pork, the most consumed meat in the country and chief contributor to its stubborn inflation, will stabilize by August.
Wang Zhicai, director of animal husbandry at the ministry, said prices would decline as farmers increase the number of pigs they raise, Xinhua news agency reported Sunday.
Pork prices in June rose 57.1 percent over last year, contributing 21 percent to China's consumer price index, which surged to a three-year high of 6.4 percent last month. Wang said the rapid price jumps over the last few months were primarily due to the rising cost of raising pigs.
"Feed-stuff and corn prices reached 2.18 yuan per kilo on average in the first half of the year, that's up 10.7 percent from a year ago," Wang was quoted in Xinhua as saying. Wang cited a shortage of sows, higher mortality of piglets last winter and the accelerated exit of small farmers from the market as other causes for the price increases.
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