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China's farm produce prices rise ahead of holiday

Xinhua, February 17, 2015 Adjust font size:

China's Ministry of Commerce (MOC) said Tuesday that farm produce prices in 36 major cities rose last week as demand rises before the country's traditional Spring Festival, which falls on Thursday.

From Feb. 9 to 15, average prices for 18 monitored vegetables surged 6.3percent from a week earlier, led by cowpeas, green peppers and cucumbers, the MOC said in a statement.

Prices for chicken and eggs rose 1 percent and 0.5 percent respectively. The price of aquatic products rose 0.6 percent from the previous week, while beef and mutton prices both edged up slightly, the MOC said.

Higher demand for food products is typical around major festivals. The Spring Festival, or Chinese lunar new year, is the most important traditional festival for family reunions. People will enjoy a week-long holiday from Wednesday to Feb. 24.

Food prices account for 31.79 percent of the prices used to calculate the consumer price index, a main gauge of inflation. Endi