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Prices of China's bulk agricultural commodities up in April, may keep rising |
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17:16, June 08, 2009 |
International markets' rally fuels rebound of China's agricultural products prices
In April, the prices of China's major bulk agricultural commodities showed a recovery trend, and the growth in demand may lead to a further hike in prices.
According to monitoring by Ministry of Agriculture of China, the domestic prices of China's bulk agricultural commodities including cotton, corn, rice, cane sugar and soybean all rose in April.
In April, the wholesale price of high-quality wheat in Zhengzhou Grain Wholesale Market has basically maintained the same compared to the previous month, with an increase of 21.6 percent compared to the same period last year. The price of rice has continued rising over the previous several months.
Although the prices of bulk agricultural products rose quite rapidly year-on-year, their month-on-month growth rate maintained a steady 1 percent growth, indicating that the current price of bulk agricultural products is relatively stable, said Miao Yuexin, associate professor of Central University of Finance and Economics.
While the prices of major bulk agricultural commodities increased year-on-year, the prices of fresh agricultural products drew a mixed results. Prices of egg, beef and mutton all increased slightly month-on-month, while the prices of pork, marine fish and vegetables showed a decline, of which, price of pork fell the most.
Judging by the trend of the current prices of agricultural products, Ha Jiming, chief economist of China International Capital Corporation Limited said prudently that though the prices of some agricultural products including edible oil and some fresh agricultural products declined, the year-on-year upward trend of the prices of bulk agricultural commodities may continue for a period of time due to the growth in demand.
By People's Daily Online
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