China Shouguang vegetable prices down 12.3% in past week

JINAN - The weekly China Shouguang vegetable price index fell 12.3 percent week on week to 104.79 points in the week ending Sunday.

The decline was partly attributed to sufficient vegetable supply in northern regions as weather across China was favorable for vegetable growing and harvesting.

Among all the 10 vegetable varieties covered by the index, seven categories saw decline in the sub-reading. Sub-indices for three others increased.

The closely-watched vegetable price index was published by the city of Shouguang in Shandong, China's major vegetable production base and vegetable distribution and price-setting center.

The index was approved by the Ministry of Commerce in 2010 and first published on April 20, 2011 to offer more timely and accurate reference for vegetable growers and traders.