China farm produce prices rebound slightly

0 Comment(s)Print E-mail Xinhua, May 2, 2012
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China's farm produce prices mostly rebounded last week, ending a five-consecutive-week downward trend as persistent rainfall limited market supplies, new data has shown.

The wholesale price of 18 types of vegetables rose 2.4 percent during the week ending April 29, with prices of white radishes, rapes and tomatoes up 14.4 percent, 11.8 percent and 9.8 percent, respectively, the Ministry of Commerce said in a statement on its website.

The wholesale price of eight staple aquatic products edged up 1.1 percent last week, while those of peanut oil, colza oil and bean oil increased 0.6 percent, 0.1 percent and 0.1 percent, respectively.

Meanwhile, rice prices inched up 0.2 percent and the price of flour stayed unchanged, according to the ministry.

However, pork and eggs prices continued to decline. Pork went down 0.1 percent week on week and 14.1 percent cumulatively since late January, while eggs dropped 0.5 percent last week and 8.9 percent cumulatively since the beginning of the year.

Food prices have a one-third weighting in the calculation of China's consumer price index (CPI), the major gauge of inflation.

China's CPI rebounded to 3.6 percent in March, after easing to a 20-month low of 3.2 percent in February.

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