Consumption Expenditure News
- Pork prices in China down in five successive weeks
Date: 18-Sep-2007 Sources: (People's Daily)
The retail price of pork in 36 big and medium-sized cities in China fell slightly for the fifth week in a row amid the government efforts to guarantee pork production and supply, sources from the National Development and Reform Commission (NDRC) said Monday.
According to the NDRC's price supervision centre, the average pork price in the cities was 25.56 yuan ( 3.5 U.S. dollars) per kilogram last week, 1.08 percent lower than the week before and 8.39 percent lower than Aug. 9, the highest ever.
The pork price hike in China was in line with international prices, said Patrick Moore, president of the International Meat Secretariat (IMS), who was speaking at the fourth IMS World Pork Conference in Nanjing from Sep. 14 to 17.
Moore said the main reason for worldwide pork price rises was the increasing demand and pig-raising costs. Although China consumed half the world's pork output, the temporary price hike would not seriously affect the market.
Prices would stabilize early next year, as the government made efforts to guarantee farmers' incomes and benefits, said Deng Fujiang, vice chairman of the China Meat Association .
The retail prices of beef, mutton and chicken rose slightly last week by 1.28 percent, 1.35 percent and 1.29 percent respectively, while eggs were down 0.41 percent from the week before.
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