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People's Daily Online>>China Business

Agricultural stocks to wither as prices of farm products decline (2)

By Gao Changxin (China Daily)

10:37, December 28, 2011

The agriculture and forestry index, which tracks all agriculture companies on the Shenzhen Stock Exchange, has plummeted about 19 percent this month. Analysts said that declining agricultural product prices will bring the index even lower next year.

The National Agricultural Products Wholesale Price Index gained 0.1 point on Tuesday to 190.7 points. It has shed more than 8 points from a record high of 198.3 points in September. The index is based on the prices of 489 agriculture products observed at 500 wholesale markets nationwide.

"Going forward, we expect a bad time for agriculture stocks, though government policies next year might help a few stocks post short-term rallies," said an analyst with Huatai United Securities Co Ltd who declined to be identified, citing corporate policies.

Wang Yin, an analyst with Minsheng Securities Co Ltd, said that high-tech seed companies will benefit the most from the government's new policies.

She said new policies will alleviate industry competition and help big seed companies gain market share. Wang recommended the shares of Yuan Longping High-Tech Agriculture Co Ltd and Shandong Denghai Seeds Co Ltd.

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