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December 10, 2010

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Big decline in prices seen in some varieties of ag produce

CHINA'S top economic planner said yesterday that prices for agricultural produce and materials continued to fall from November 29 to December 5, with some varieties seeing big drops.

Food prices monitored in 36 major cities fell 0.2 percent from the previous week, said the National Development and Reform Commission.

Vegetable prices fell the most, with wholesale prices dropping for the fourth consecutive week and prices of 16 out of 18 staple vegetables declined from early November, it said.

Radish prices tumble 32 percent, Chinese cabbage 28.6 percent, and rape 27.3 percent.

Prices of lettuces, cucumbers, celery, cabbages and eggplants all dropped by more than 20 percent.

Meanwhile, vegetable prices in 18 of the 36 cities fell by more than 15 percent on a monthly basis, according to the commission.

Prices in Lanzhou, capital of northwest China's Gansu Province, plunged 35.8 percent, those in Xiamen, southeast China's Fujian Province, fell 31.9 percent, while in Haikou, capital of Hainan Province in south China, prices dropped 27.2 percent.

Also, prices in eight cities, including Shenyang, Shenzhen and Ningbo, declined by more than 20 percent.

Prices of production materials fell for a third consecutive week, the NDRC said.

Compared with the previous week, prices of major production materials fell 0.4 percent, up 0.3 percentage point.

Urea prices lost 1.5 percent weekly, while natural gas prices dropped by a weekly 1.3 percent. Prices of aluminum fell 0.8 percent, and those of rubber dipped by 0.2 percent.

Official figures showed that the country's grain output rose 2.9 percent year on year in 2010 to 546.41 million tons.



 

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