In China, food prices have risen sharply: State Economy: Economy: Lenta.ru

In China, food prices have risen sharply, vegetables have risen in price more than others. This is evidenced by the data of the National Bureau of Statistics of the PRC, published CNBC.

Vegetable prices in China rose 30.6 percent in November, compared with the same period last year, according to the bureau. Prices for eggs also increased – by 20.1 percent compared to last year, and for freshwater fish – by 18 percent. At the same time, the bureau notes that prices for the main product of the Chinese diet, pork, have decreased. Compared to last year’s highs, the cost of meat decreased by 32.7 percent.

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However, in October, pork prices rose 12.2 percent over the same period last year. The CPI, which is very sensitive to pork prices, rose less than expected overall. In November, its indicator increased by 2.3 percent. At the same time, the statistical office of China noted that although the supply of vegetables increased in November, this did not restrain the growth of prices. Prices for other food items in China as a whole increased by 1.6 percent year-on-year in November, amid rising inflation around the world.

The main reason for the rise in prices for vegetables in the PRC was torrential rains at the end of October, which flooded the main production regions in the north and flooded Shandong province, which is the leading region for the supply of vegetable products. In early November, China’s Ministry of Commerce even informed citizens of the need to stock up on food for the winter. The agency urged local authorities to ensure the supply of vegetables and basic necessities during the winter, as well as promptly publish information about where and how people can get them.

Then the Chinese authorities expressed fears that extreme weather conditions could negatively affect the production and transportation of vegetables. In addition, food prices in the country are volatile and traditionally rise as winter approaches. This led to the fact that the wholesale prices for vegetables, in some cases, they exceeded the cost of meat.

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