Beijing, China
January 8, 2013

Relevant Chinese authorities are moving to rein in soaring vegetable prices fueled by supply shortages amid the cold weather.

The National Development and Reform Commission (NDRC) is studying ways to reduce circulation costs, and some local authorities have already moved to use price regulation funds to stabilize prices, a source the NDRC, the country's top economic planner, told Xinhua Tuesday.

The Ministry of Commerce said that it has ordered local commerce authorities to release government reserves of farm produce in a timely manner, adding that efforts will be made to promote links between production and sales.

The Ministry of Agriculture urged local agricultural departments to provide forecasts and warnings on changes in the market, and step up efforts to crack down on hoarding and speculation.

As temperatures in China dropped in December, the nation's vegetable prices have increased sharply, triggering widespread public outcries.

Since the end of November, China has experienced its lowest temperatures in 28 years, according to the China Meteorological Administration.

Data from the Ministry of Agriculture showed that the average wholesale price for 28 staple vegetables climbed to 3.65 yuan (58 cents) per kg in December, a rise of 22.4 percent from November and 35.4 percent from October.

Source: Xinhua News Agency via Ministry of Agriculture
 

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Published: January 10, 2013