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Drop in Pork Prices for First Time in Three Months

by 5m Editor
27 July 2011, at 9:21am

CHINA - China's pork prices dropped 0.2 per cent for the week ending 24 July from the previous week, the Ministry of Commerce (MOC) said yesterday.

The previous week-on-week drop occurred in the week ending 10 April with a 0.1-per cent decline, according to reports listed on the MOC website.

High pork prices have become a big concern for the nation as the consumer price index, the main gauge of inflation, shot up to a three-year high of 6.4 per cent last month, driven by surging food prices.

Data from the National Bureau of Statistics showed pork prices in June surged 57.1 per cent year-on-year.

Meanwhile, 18 types of vegetables underwent an average price drop of 1.5 per cent last week from the previous week. Eight types of aquatic products climbed 1.4 per cent in wholesale prices week-on-week.

Prices of mutton and beef rose 1 per cent and 0.6 per cent, respectively. Egg prices also climbed 0.6 per cent.