China Shouguang Vegetable Prices Up 3.2 Pct In Past Week

The weekly China Shouguang vegetable price index rose 3.2 percent week on week to 90.26 points in the week ending Sunday

CHINA, (UrduPoint / Pakistan Point News - 23rd Oct, 2019 ) :The weekly China Shouguang vegetable price index rose 3.2 percent week on week to 90.26 points in the week ending Sunday.

The rise of the index came after a significant temperature drop last week, which affected vegetable growth and supplies. The higher production costs also raised the prices since vegetables on the current sales market are mainly grown in greenhouses.

Among all the 10 vegetable varieties covered by the index, four categories increased in the sub-reading. Sub-indices for five others saw decline.

The vegetable prices are forecasted to have little room for further increase this week due to expected fine weather and bigger supplies.

The closely-watched vegetable price index was published by the city of Shouguang in Shandong, China's major vegetable production base and vegetable distribution and price-setting center.

The index was approved by the Ministry of Commerce in 2010 and first published on April 20, 2011 to offer more timely and accurate reference for vegetable growers and traders.