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Farm produce prices fall for fifth straight week

Xinhua, May 10, 2016 Adjust font size:

Farm produce prices fell for a fifth consecutive week due to increasing vegetable supplies, the Ministry of Commerce said on Tuesday.

The average price of 30 kinds of vegetables dipped 5.7 percent last week, compared to a drop of 4.6 percent one week earlier, according to the ministry website.

Beans, white gourd and onions were down 17.3 percent, 16.9 percent and 12.5 percent week on week in a sample of 36 Chinese cities.

Grain prices remained steady. Meat was slightly more expensive, with pork and mutton rising 1.3 percent and 0.7 percent, respectively.

Edible oil prices also went slightly up. Both of soybean oil and rapeseed oil prices edged up 0.3 percent, while peanut oil prices stayed unchanged from one week earlier.

Food prices account for one-third of the weighting in the calculation of China's consumer price index (CPI).

This year's consumer price growth is set at around 3 percent, the same as that in 2015.

China's CPI rose 2.3 percent in April, flat from the previous two months, new data showed Tuesday. Endi