Pigs won't make inflation fly | Shanghai Daily

The story appears on

Page B2

September 22, 2009

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Business » Consumer

Pigs won't make inflation fly

CHINA'S Minister of Agriculture Sun Zhengcai said yesterday recent consecutive increases in the prices of pork and eggs were "normal" and would not trigger inflation.

Sun made the remarks at a conference on achievements China has made in the 60 years since 1949 when the People's Republic of China was founded.

Food makes up a third of China's consumer price index.

Sun made the remarks to dispel concerns that recent price increases would lift other agricultural products' prices and lead to inflation.

Data from the National Development and Reform Commission yesterday showed the price of pork was 23.94 yuan a kilogram during the week starting on September 14, up 0.17 percent from the previous week.

Sun said pork prices had recorded an accumulated 30 percent increase in the past 15 weeks, adding that the rises were because of normal recovery and seasonal adjustment.

China's pork prices fell from March to June on oversupply and concerns the H1N1 influenza virus was connected with pigs.

He gave figures to support his argument, saying the current price of pork was still 11.3 percent lower than this year's price peak, and 16.3 percent lower than a year ago.

Egg prices stood at 8.29 yuan per kilogram last week, down 0.7 percent from a year earlier.

The rebound in prices was a result of their being too low during the March-June period, Sun said, noting the increases helped ease the losses of big breeders.




 

Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend