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Prices of Farm Produce and Material for Production Kept a Downward Trend
Date: 2012-06-08    Source:Ministry of Commerce Website

The prices of major farm produce monitored by MOFCOM dropped in five consecutive weeks (May 28- June 3) and price of material for production dropped in seven consecutive weeks.

Due to the rising temperature, the market supply of some fruits and vegetables is on the increase and the prices of vegetables continue to drop. The wholesale prices of 18 vegetables dropped 7.5% compared with that of the previous week, 6.1 percentage points lower than that of the previous week, of which bitter gourd, cucumber and green pepper dropped 17.3%, 14.9% and 13.9% compared with that of the previous week. Affected by the reduced main production areas and the unfavorable weather, the price of garlic rose 20.3%, 10.3% lower compared with the same period of the previous year. The wholesale prices of meat fluctuated slightly, of which pork dropped 0.9%, while that of beef, lamb and chicken were up by 0.5%, 0.3% and 0.1% respectively. The retail price of oil rose, of which rapeseed oil, peanut oil and soybean oil were up by 0.4%, 0.3% and 0.1% respectively. The price of grain maintained steadily, of which rice and wheat flour remained unchanged compared with that of the previous week. Influenced by the fishing-off season in Huanghai River and Bohai River, the market supply of aquatic products reduced. The wholesale prices of 8 aquatic products continued to rise, 0.3% higher compared with that of the previous week with an accumulative increase of 3.6% in seven consecutive weeks, of which carp, small cutlass and small yellow croaker were up by 1.4%, 1.3% and 0.7% respectively. The retail price of eggs began to rise after the long drop since the beginning of this year, with an increase of 2.6% compared with that of the previous week, and in Beijing, Wuhan and Hohhot were up by 11.4%, 10.2% and 8.5% respectively.

Of major material for production, the prices of energy, rubber, agricultural materials, steel, mineral products and raw materials for light industry fell, while that of building materials and chemical products remained unchanged. The price of energy resources dropped 1%, of which crude oil dropped 1.2% with an accumulative decline of 9.7% in seven consecutive weeks; coal dropped 1.1% with an accumulative decline of 2.8% in three consecutive weeks. The price of rubber fell 0.6%, imported RSS3 and 1#domestic standard rubber dropped 1.3% and 1.1% respectively. Driven by the increasing supply of natural rubber and decreasing cost of raw materials of synthetic rubber, the prices of rubber dropped in eight consecutive weeks, 10.7% lower compared with that of at the beginning of April. The price of non-ferrous metal dropped 0.4%, of which 1#nickel, 1#copper and A00 aluminum dropped 1.9%, 0.8% and 0.1% respectively. The price of steel dropped 0.1%, of which 0.5mm non-oriented silicon steel sheet, 8#channel and 5#equilateral angle steel dropped 0.4%, 0.3% and 0.3%. As the decreasing demands for automobile and ship, the price of steel dropped slightly in seven consecutive weeks with a decline of 2%. The price of mineral products dropped 0.1%, of which zinc, lead, and copper dropped 0.1%, 0.4% and 0.3% respectively. The price of materials for light industry dropped 0.1%, of which cotton dropped 0.7% and kept falling for eleven consecutive weeks, 4.4% lower compared with that of at the mid-March. The price of building materials remained unchanged, of which cement dropped 0.3%, glasses rose 0.9% while that of timber remained unchanged.