China's farm produce prices up

Updated: 2011-05-18 09:45
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BEIJING -- Prices for Chinese farm produce went up slightly, while prices for production materials declined, the Ministry of Commerce (MOC) said on Tuesday.

Also, the retail price of grains gained with 0.4 percent in rice and 0.2 percent in flour during the week May 9-15 compared to the previous week, said a statement on the MOC website.

Due to higher costs for aquatic products transportation in summer, wholesale prices of eight aquatic products went up 1.5 percent over the previous week. The growth rate was 0.3 percentage point higher, week on week.

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The wholesale prices of 18 staple vegetables went down 1.9 percent, though the decline rate was 1.2 percentage points lower, week on week.

The prices of meat were mixed with declines in mutton by 0.3 percent and beef by 0.1 percent. Pork prices, however, went up 1.2 percent and chicken prices gained 0.1 percent.

Colza oil prices dropped 0.1 percent and peanut oil prices gained 0.1 percent. Soybean oil prices were flat.

Egg prices were up 0.8 percent due to declining output in summer.

Producer goods, including nonferrous metal, rubber and steel dropped, with 2.2 percent down in nonferrous metal and 0.4 percent down in steel.

Food prices have key weightings in the calculation of China's consumer price index (CPI), a major gauge of inflation, which hit 5.3 percent in April.