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Unfavorable weather conditions temporarily push up China's farm produce prices
Last Updated: 2018-08-29 10:14 | Xinhua
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Farm produce prices in China continued to climb in the week ending on Aug. 26 as unfavorable weather conditions across the country affected supply, data from the Ministry of Commerce showed Tuesday.

The price index for farm produce went up 1.6 percent in the past week, following an 1-percent gain the previous week, while the index for production materials edged up 0.1 percent.

The average wholesale price of 30 types of vegetables surged 6.1 percent, compared with an 1 percent rise the week earlier.

Tang Ke, an official with the Ministry of Agriculture and Rural Affairs, attributed the rebound to high temperatures across the country, as well as typhoon and geological disasters in some main producing areas.

But as the seasonable fluctuations gradually fade, the market supply will pick up to stabilize prices, according to Tang.

Tuesday's data also showed the wholesale price of pork, the country's staple meat, fell 0.1 percent from the previous week. The price of beef went up 0.5 percent and lamb 0.3 percent, with eggs surging 4.3 percent.

Food accounts for almost one-third of China's consumer price index.

China's consumer price index, a main gauge of inflation, rose 2.1 percent year-on-year in July, faster than the 1.9-percent rate recorded in June, according to the National Bureau of Statistics.

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Unfavorable weather conditions temporarily push up China's farm produce prices
Source:Xinhua | 2018-08-29 10:14
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