Farm Produce Prices Rise for 8th Straight Week

CHINA - Farm produce prices rose for an eighth consecutive week last week, while the prices of producer goods remained unchanged, the Ministry of Commerce said Tuesday.
calendar icon 18 January 2012
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Meat prices rose last week, with prices of pork, mutton and beef up 0.8 per cent, 0.6 per cent and 0.5 per cent, respectively. Chicken prices went up 0.4 per cent.

Prices of edible oil and aquatic products also gained slightly last week. But egg prices fell 0.3 per cent from one week earlier, the statement said.

Food prices have a one-third weighting in the calculation of China's consumer price index (CPI), a major gauge of inflation. The CPI eased to 4.1 per cent in December, the slowest rise in 15 months.

The ministry said prices of major producer goods remained unchanged or even slid last week. Prices of cement and other building raw materials fell as many construction projects have been suspended for the Spring Festival, which will fall on 23 January.

TheCattleSite News Desk

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