China’s farm produce prices edge down

17 january 2013

BEIJING – Farm produce prices in 36 large and medium-sized cities in China fell because of abundant supplies, the Ministry of Commerce said Wednesday.

Last week, the wholesale price of 18 types of vegetables dropped 0.4 percent from a week earlier, according to the ministry.

Prices of cabbages, radishes and lettuces declined 8.8 percent, 7.3 percent and 7 percent, respectively.

The price of eggs dropped 0.4 percent, down for the third week.

Wholesale prices of eight kinds of aquatic products rose slightly, and retail prices of cooking oils saw slight fluctuations. The wholesale price of pork dropped slightly, while prices of mutton and beef went up slightly week-on-week.

Food prices account for about 30 percent of the weighting in the nation’s calculation of the consumer price index, the key gauge of inflation.

The CPI rose 1.9 percent year-on-year in September, easing from 2 percent in August, according to the country’s statistics authority.