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China’s farm produce prices retreat slightly

Updated: Jun 19,2018 7:56 PM     Xinhua

BEIJING — China’s farm produce prices fell slightly in the week ending June 17 due to sharp drops in vegetable prices, according to the Ministry of Commerce on June 19.

The price index for farm produce edged down 0.6 percent in the past week, compared with a 0.2 percent fall the previous week. The index for production materials edged down 0.1 percent.

The average wholesale price of 30 kinds of vegetables fell 2.8 percent from a week earlier.

The wholesale price of pork, the country’s staple meat, rose 0.3 percent from a week earlier. The price of beef and lamb gained 0.2 percent and 0.5 percent, respectively.

The wholesale price of eggs rose 0.1 percent.

Food accounts for about one-third of China’s consumer price index.

China’s consumer price index rose 1.8 percent year on year in May. Food prices edged up by 0.1 percent, resulting in a growth of 0.01 percentage points in the price index.