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Pork Price Rises Again

The wholesale price of pork, China's staple meat, leapt back up to 18.69 yuan (US$2.5) per kilogram as of November 5, up 5.4 percent from the level recorded on October 8, the Ministry of Commerce (MOC) said Thursday.

The MOC blamed the price hike on increasing demand and rising breeding and transportation costs.

The price in the country's large and medium-sized cities, however, was still 7.5 percent lower than the record level set in August, the MOC added.

The price of pork almost doubled this year before starting to decline in mid-August.

The sharp price rises drove up China's consumer price index to an 11-year-high of 6.5 percent in August.

The MOC urged local authorities to improve the pork reserve system and strengthen pork quality checks to guarantee pork supply.

China's central and local governments would earmark a total of 14.6 billion yuan (US$2 billion) this year to encourage farmers to raise pigs and boost pork supplies, Deputy Finance Minister Zhang Shaochun said in October.

( November 9, 2007)

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