Economy

Chinese farm produce prices continue rising

(Xinhua)
Updated: 2011-01-26 13:18

BEIJING -- Chinese farm produce prices rose for a fourth consecutive week, through January 23, the Ministry of Commerce said Tuesday.

One reason for the price hike was that freezing weather in southern China had affected vegetable production and transportation, the ministry said in a statement on its website.

Related readings:  Farm produce prices rise for 3rd consecutive week  Farm produce prices rose last week on icy weather  China orders steady supply of farm produce amid icy weather  Chinese farm produce prices rise on holiday demand

The wholesale prices of 18 staple vegetables grew 12.6 percent week on week. Also, the prices of green peppers, cucumbers, chilli peppers and bean pods rose by at least 10 percent.

As the Spring Festival draws near, the demand for meat and eggs increased, while enterprises have been stockpiling supplies and large purchases have expanded.

Also, mutton prices gained 1.4 percent last week from one week earlier. Egg prices climbed 1 percent week on week and beef prices went up 0.8 percent, while pork prices increased 0.7 percent and chicken prices were up 0.2 percent.

Last year, rising food prices pushed up China's consumer price index (CPI), the major gauge of inflation. China's CPI hit 3.3 percent in 2010, compared with the government's target ceiling of 3 percent, the National Bureau of Statistics said on January 20.