[ 2007-05-25 10:19 ]
|A consumer walks past a pork booth at a market in
Nanjing, east China's Jiangsu province May 23, 2007. China is planning to
set up a "meat reserve" if the domestic pork and poultry prices keep
rising, media reported on Wednesday, days after pork hit a record high in
parts of China. [Reuters]
Prices of pork and eggs kept soaring over past weeks on
Chinese market due largely to tightened supply and increasing production cost.
Sources with the Ministry of Agriculture said on Wednesday that if the prices
remain high, the country's consumer price index (CPI), a major indicator for
inflation, will be affected. CPI reached the alarm level of three percent in
Food products account for 33 percent of CPI in China, and meat,
poultry and related products, about 20 percent.
According to the Ministry of Agriculture, in April live pigs nationwide were
priced 71.3 percent higher than a month earlier, and pork, 29.3 percent higher.
In Beijing, price of pork went up more than 30 percent in recent
days, while that of eggs rose to record high for past five years.
price of pork in Shanghai has hit 16 yuan (2.1 U.S. dollars) per
kilogram, a record high for recent 10 years, up 20 percent month-on-month.
The wholesale price was even higher in Hangzhou, capital city of east China's
"I bought the pork at 17 yuan per kilogram from a
distributor on Monday, and the price kept changing day by day. I have no other
choice but to raise retail price
," complained Jin Qiuhua, a local retailer, at a pork stand in a
marketplace of Maolang Lane, Hangzhou.
"I've sold pork for more than 20 years, such a continuous price hike was only
seen in 1994," said Lu Youzhong, another pork retailer in the city.