China's weekly farm produce wholesale prices down

BEIJING - The wholesale prices of China's farm produce dropped in the week from May 12 to 18, data from the Ministry of Agriculture and Rural Affairs showed.

During the period, the China agricultural product wholesale price index came in at 123.51, down 1.02 points from the previous week and decreasing by 1.53 points from the same period last year, according to the ministry.

The average price of pork, a staple meat in China, fell 0.7 percent week-on-week to 19.43 yuan (about $2.76) per kg. The figure was 4.1 percent lower year-on-year.

The average wholesale price of 19 key vegetables tracked by the government dropped by 2 percent week-on-week, while that for six key types of fruits rose 2.1 percent on a weekly basis, the data revealed.

The wholesale price index is compiled based on data from over 200 agricultural wholesale markets. It is updated daily based on the weighted average of price indices for goods including vegetables, fruits, aquatic products, and livestock products.