CHINA: China dips into reserves as vegetable prices spike
China concerned at rising vegetable prices
China's Government has ordered local authorities to release reserve stocks amid concerns over rising vegetable prices in the country.
Officals at the Ministry of Agriculture also want local agricultural authorities to get tougher on vegetable price speculation and product hoarding, according to a report by the state-owned Xinhua news agency and re-published by the Ministry.
Data published by the Ministry of Agriculture covering the first nine months of 2012 shows vegetable prices up by between 10% and 16% versus the same period of 2011.
Historically low temperatures throughout December have caused prices to rise further, sparking concerns, said the report yesterday (8 January).
Until that point, fruit and sugar had experienced some of the strongest price rises in China in 2012, largely in the third quarter of the year.
- On the money: Unilever shifting into growth spots
- Indian conglomerate ITC sets out FMCG ambition
- On the money: Danone denies strategy overhaul
- Why whole sector should take heed of meat scrutiny
- On the money: Kellogg still struggling with cereal
- Chobani bid for fresh UK appeal rejected
- Kellogg to close US snack plant
- Danone UK ad banned over unauthorised claims
- Danone takes Mars yoghurts into more markets
- Tyson sells Mexico, Brazil ops to JBS