China's agricultural product price edges down

BEIJING - China's agricultural product price edged down Monday, according to a report from the Ministry of Agriculture and Rural Affairs.

By 2 pm Monday, the China agricultural product wholesale price index stood at 109.12, down 0.02 points from last Friday.

The average wholesale price of 28 types of vegetables monitored by the government gained 1.3 percent to 3.85 yuan per kilogram, while that of six types of fruit contracted 1.3 percent to 8.47 yuan per kilogram from last Friday.

Vegetables and fruit that saw the largest price drop on Monday included pineapple, watermelon, eggplant, grape and wax gourd, the report said.

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

The index is compiled from data collected from around 200 agricultural wholesale markets and is updated daily based on the weighted average of price indices for goods including vegetables, fruit, aquatic products, livestock products, cereals and edible vegetable oil.