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China's farm produce prices up after dropping for 6 weeks: MOC

(Xinhua)

15:04, November 29, 2011

BEIJING, Nov. 29 (Xinhua) -- China's farm produce prices went up last week, concluding a six-week losing streak, in line with the production of most produce decreasing in winter, the country's Ministry of Commerce said Tuesday in a statement posted on its website.

The wholesale prices of 18 staple vegetables were up 3 percent from a week earlier, representing the third consecutive weekly gain. The price of cucumber surged 19.9 percent from a week earlier, while string bean prices were up 7.6 percent, the statement said.

Pork prices dropped 1 percent last week, marking a decline of 10.7 percent since mid-September. Mutton and beef prices were slightly up compared with a week earlier.

The retail price of eggs fell 1 percent from the previous week, adding up to a 5-percent drop in the past two months as supply of eggs was sufficient, according to the statement.

Food prices have a one-third weighting in the calculation of China's consumer price index (CPI), a major gauge of inflation. China's CPI eased to 5.5 percent last month, down from 6.1 percent in September.

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