China's farm produce prices see consecutive rise

Updated: 2010-11-10 22:15

(Xinhua)

Twitter Facebook Myspace Yahoo! Linkedin Mixx

China's farm produce prices see consecutive rise

 

A vegetable vendor talks to another vendor (not pictured) as she waits for customers at a market in Hefei, Anhui province Nov 10, 2010. [Photo/Agencies]

 

BEIJING - Prices of China's edible farm produce have witnessed consecutive increases since mid-October, official figures showed Wednesday, indicating the appearance of greater inflationary pressures.

Prices of 18 types of vegetables in 36 large and medium-sized cities rose by 4.9 percent in the week that ended Nov 7 from the previous week due to increasing production costs as winter comes in China, according to an analysis report released by the Ministry of Commerce (MOC) on its website.

Related readings:
China's farm produce prices see consecutive rise E-trading plays a role in farm produce price surge
China's farm produce prices see consecutive rise Farm produce prices higher amid inflation concern
China's farm produce prices see consecutive rise Farm produce prices post rises
China's farm produce prices see consecutive rise China to further boost farm produce distribution

Additionally, it is expected that prices of vegetables would maintain the upward trend in the near future, according to the MOC.

From Nov 1 to Nov 7, prices of edible oil and sugar rose by 0.5 percent and 1.0 percent respectively, from one week earlier, while eggs and meat rose by 0.8 percent.

Meanwhile, prices of flour and rice edged up 0.4 and 0.2 percent respectively compared with last week, while seafood prices rose by 0.7 percent.

Food prices account for one-third of weight in the calculation of China's consumer price index (CPI), a main gauge of inflation. Rising food prices have fueled inflationary pressure and pushed the index to a 23-month high to 3.6 percent in September.

China's annual CPI is expected to rise slightly higher than the government's set target of 3 percent this year, Zhang Ping, head of the National Development and Reform Commission, said Tuesday.

The October CPI figure is scheduled to be unveiled on Thursday.

The MOC also said Wednesday, in an online statement, that it would release the second batch of national reserve pork in 2010 to meet increasing domestic demand and curb soaring price.

Paper's Digest

Showing face: Looks can kill

Recent death of plastic surgery patient sends shock waves across growing industry

Xi'an - more than just clay soldiers
'Europe needs stimulus from China’

European Edition

Specials

Thrills - and some spills

Some European firms encounter choppy waters as economic situation in China changes.

Chinese jet takes on Big 2

First large commercial plane set to ride on demand for aircraft as economy grows.

Gaining ground

Doing business in china for westerners has come a long way, Peter batey says.

Mounting inflation pressure tests policy makers
Chinese vice president to visit four nations
Chinese, Russian presidents meet in Seoul on co-op