Food rules prompt fall - ResearchInChina

Date:2008-01-18liaoyan  Text Size:

WILMAR International Ltd, which supplies half of China's edible oil, yesterday had its biggest fall in 11 months, leading a decline in food producers after China imposed curbs on prices to damp inflation on Wednesday.

Makers and sellers of grain, cooking oil, meat, milk and eggs must seek approval for price rises, the country's top planning agency said on Wednesday, naming 12 companies - including Singapore-based Wilmar.

Wilmar dropped 7.6 percent, to S$4.49 (US$3.13), the largest one-day decline at the close since February 2007, and was the worst-performing stock on the Singapore exchange.

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