China’s weekly farm produce prices drop 3%

Via China Daily

A customer selects imported goods at a bonded commodities exhibition and trading center in Southwest China’s Chongqing, on Jan 18, 2019. [Photo/Xinhua]

BEIJING – Prices of farm produce in China fell from last week with slips in the wholesale prices of pork and eggs, data from the Ministry of Commerce showed Tuesday.

From Nov 18 to 24, the overall price of farm produce went down 3 percent on a weekly basis, trailing a 2.8-percent decrease the previous week.

In breakdown, the pork wholesale price declined 8.6 percent from the previous week, while the wholesale price of beef kept unchanged.

Poultry-related products saw prices decline, with the wholesale price of eggs shrinking 6.5 percent.

The average wholesale price of 30 types of vegetables edged up 2 percent from last week.

Food accounts for about one-third of China’s consumer price index (CPI), a main gauge of inflation.

Data showed China’s CPI rose 3.8 percent year-on-year in October, expanding from the 3-percent growth registered in September.

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