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China's Farm Produce Prices Continue to Fall

03 July 2018

CHINA - China's farm produce prices continued to fall in the week ending 1 July due to persistent drops in vegetable prices, according to data from the Ministry of Commerce.

The price index for farm produce edged down 0.8 per cent in the past week, compared with a 0.9 per cent fall the previous week. The index for production materials fell 0.3 per cent.

The average wholesale price of 30 kinds of vegetables fell 2.7 per cent from a week earlier.

The wholesale price of pork, the country's staple meat, rose 0.6 per cent from the previous week. The price of beef gained 0.3 per cent and mutton went down 0.3 per cent.

The wholesale price of eggs fell 1.1 per cent.

Food accounts for about one-third of China's consumer price index.

China's consumer price index rose 1.8 per cent year-on-year in May. Food prices increased by 0.1 per cent, resulting in a growth of 0.01 per cent in the price index.

TheCattleSite News Desk

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