Shenzhen Government Online
Decreasing pork prices pull city’s CPI down
From: Shenzhen Daily
Updated: 2021-07-14 09:07

Pork prices which kept decreasing since the Spring Festival pulled down the growth of the city’s consumer price index (CPI) in June.


Compared with May, the city’s CPI dropped by 0.3 percent and food prices decreased by 1.1 percent, partly due to the increasing supply of pork whose prices plunged by 9.7 percent, statistics with the Shenzhen Municipal Statistics Bureau showed.


Statistics from the city’s market supervision showed a total of 410,000 pigs were slaughtered in June and pork wholesale price dropped to 21.04 yuan (US$3.25) per kilogram. Between July 1 and July 8, a total of 14,200 pigs were slaughtered a day and pork wholesale price was at 23.38 yuan per kg. Due to the abundant supply, pork prices were stable and went slightly down.


At agriculture produce markets, most pork was sold below 20 yuan per 500 grams, except ribs that were sold at 30 yuan per 500 grams. In some supermarkets, pork was sold at promotion prices of 9.9 yuan per 500 grams. According to a Vanguard supermarket outlet customer, the pork promotion price was 19.99 yuan per 500 grams in April.


The prices of lean meat and ribs dropped by 37.5 percent and 36.9 percent, respectively, compared with the prices in April. Pork prices in June dropped by 38 percent compared with April.


At Carrefour outlets, forelegs, hindlegs and backbones were sold at 9.9 yuan per 500 grams. By July 8, pork prices dropped by 29 percent and 52 percent compared with the prices in April and January.



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