Himfr Reports Food and Vegetable Prices Rise Before the Festival

2009-12-31 15:49 507

BEIJING, Dec. 31 /PRNewswire-Asia/ --, one of China's leading B2B search platforms with more than 30 B2B industry websites to its name, reports that food and vegetable prices will rise before the festival.

According to past fruit and vegetable price trends, Himfr forecasts that before the Spring Festival, vegetables, fruits, and pork prices will rise slightly; the average price will be slightly higher than last year.

Vegetable and fruit prices rose in the first three quarters of this year. Vegetable prices increased 5.31% year-on-year; and fruit prices rose by 10.46%. Entering the fourth quarter, due to snow, grain, and cooking oil price had risen, and vegetable and fruit prices also rose. Vegetable prices in the fourth quarter rose 13% from the first three quarters, up 3.3%. Entering the fourth quarter, fruit prices rose more than 12% from the first three quarters, up year-on-year 7%.

Himfr analysts believe that seasonal impact is the main reason for vegetable prices rising. As winter approaches, vegetables come mainly from Shandong, Zhejiang, Fujian, Guangdong, Hainan and other vegetable-producing areas. In addition to transportation costs, the freezing of vegetables increases the cost of packaging. Since these costs are increasing, so are the prices of fruit. However, Himfr expects that after the Spring Festival, as warm weather returns, vegetable and fruits prices will decline.

Meat prices will rise steadily, and freshwater prices will increase substantially. Seafood products, pork, rice, and cooking oil prices will rise in different degrees. Himfr expects that by National Day, the daily trading volume of freshwater fish will reach 160 tons, and that of special seafood will reach about 90 tons. As feeding costs increased, freshwater fish prices went up about 10% year-on-year.

The current supply of pork is relatively stable, but because of fuel and feed prices and other reasons, pork prices rose steadily. Pork prices in the third quarter increased by 3.5%, and prices are rising steadily with a few fluctuations.

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