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China vegetable, grain prices surge over 50 percent

01-11-2012 14:10 BJT

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Vegetables and other agricultural products in China became much more expensive last month, largely due to the Chinese New Year peak consumption season. According to data from the Ministry of Commerce, prices of vegetables have doubled, compared with the level recorded in the second half of October.

Meat and vegetables are leading the price surge, while prices of grains and oil have also seen a slight increase.

Analysts say the soaring prices are mainly due to consumer demand during the festive period. But analysts also point out, total supply of agricultural goods this year is sufficient to meet the high demand. They’re confident this will keep food prices within a safe range of fluctuation.

They also note adequate global grain supply also leaves room for Chinese prices to fall back to a lower level.

 

Editor:Zhang Rui |Source: CNTV.CN

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