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Pork price rise alone won't affect CPI much: Economists

by 5m Editor
5 July 2007, at 7:29am

CHINA - China's pork prices continued to rise this month, but that factor alone will not significantly push up the consumer price index (CPI ), analysts said.

The price of fresh boneless pork rose 12.3 percent from May 21 to June 20 to 19.56 yuan per kilogram, the National Development and Reform Commission (NDRC) said in a statement on its website.

The NDRC conducts a monthly survey of prices for 46 major goods and services in 36 cities. The latest survey found a 0.1 percent drop in egg prices.

Ministry of Agriculture statistics also pointed to strong pork price rises.

Monitoring of wholesale pork prices in 40 major markets across the country showed that the highest price reached 20 yuan per kg yesterday, with the average at 16.8 yuan per kg, 29 percent higher than in April.

"It is hard to ease the tight supply in the short term, and so pork prices continued to rise significantly," the statement said.

Rising prices for grain used as feed and blue ear disease - also known as porcine reproductive and respiratory syndrome - which killed a large number of pigs nationwide last year dampened enthusiasm for raising pigs, analysts agreed.

Source: China Daily

5m Editor