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Vegetable, fowl prices soar before Spring Festival

by 5m Editor
27 January 2006, at 12:00am

CHINA - Vegetable prices in major Chinese cities have increased rapidly before the Spring Festival, which falls on Jan. 29 this year, the Department of Market Operation under the Ministry of Commerce said on Thursday.

Vegetable, fowl prices soar before Spring Festival - CHINA - Vegetable prices in major Chinese cities have increased rapidly before the Spring Festival, which falls on Jan. 29 this year, the Department of Market Operation under the Ministry of Commerce said on Thursday.

According to the official figures, on Jan. 23, the average wholesale price of 20 major categories of vegetables in 36 large and medium-sized cities stood at 3.32 yuan (0.41 U.S. dollars) per kg, up 10.3 percent over that a week ago, and almost 30 percent over that a year ago.

The vegetable prices in some cities such as Beijing, Zhengzhou, Jinan and Urumqi grew 15 percent to 20 percent in a week. The department attributed the vegetable price surge to vegetable output decrease caused by frigid weather, traffic congestion caused by rainy and snowy weather, and the soaring demand before the Spring Festival.

Fowl price rises but egg price drops The fowl price continued to rise before the Spring Festival, but egg price is dropping unexpectedly.

On Jan. 24, China's wholesale chicken price in major wholesale markets averaged at 8.02 yuan (1 U.S. dollar) per kg, up 2.82 percent over that a week ago, while the chicken retail price in supermarkets averaged at 13.63 yuan per kg, up 3.06 percent, according to figures provided by the department.

The average wholesale price of eggs, however, dropped 3.94 percent from a week ago to 4.63 yuan per kg, and egg retail price averaged at 5.54 yuan per kg, down 1.78 percent from a week ago, the department said.

Insiders attributed the egg price drop to abundant stockpile prepared by traders for the forthcoming festival as well as the current downturn demand.

As the Spring Festival is approaching, it is very likely that fowl price will continue rising and egg price will remain stable, insiders said.

Source: Xinhuanet - 27th January 2006

5m Editor