36 major Chinese cities see drop in farm produce costs
0 Comment(s)
Print
E-mail Xinhua, May 14, 2013
Prices of farm produce in 36 major Chinese cities declined for the third consecutive week, official data showed yesterday.
The Ministry of Commerce said in a statement that the average wholesale price for 18 vegetables fell 7.9 percent weekly, with the combined decline of the previous three weeks standing at 13.1 percent.
The ministry attributed the drop to warmer temperatures and increased supplies of vegetables.
Prices of cucumbers fell 18.7 percent, cabbages dropped 17 percent and green peppers shed 14.4 percent, which led the declines.
The wholesale price of chickens grew 0.1 percent week on week, after falling for seven straight weeks. The outbreak of H7N9 avian flu virus since the end of March has affected the country's consumption of chicken.
Prices of pork, the country's staple meat, dropped 0.7 percent week on week. The prices of beef and mutton were relatively flat, according to the statement.
Food costs account for about one-third of the prices used to calculate China's consumer price index, a main gauge of inflation.
Prices of production materials picked up slightly.
The value of non-ferrous metal and rubber both gained 2.5 percent. Energy prices grew 0.4 percent, with a 1.3 percent increase registered in crude oil which was the major contributor. Prices for steel edged down 0.2 percent, due to the increase of output and stock.
Go to Forum >>0 Comment(s)