China's pork prices rose 0.4 percent during the week ending Sept. 2 as upcoming holidays spurred an increase in demand, the Ministry of Commerce (MOC) said Tuesday.

The increase was 0.1 percentage point higher than that of the previous week ending Aug. 28, marking the fourth straight week of rises, according to a statement posted on the MOC website.

High pork prices, which surged by nearly 57 percent in July, have become a major concern in the country. July's inflation data hit a 37-month high of 6.5 percent, largely driven up by food prices.

The statement attributed the rise in prices to the fact that food processing enterprises have increased purchases of meat and eggs in preparation for the upcoming Mid-Autumn Festival which lasts from Sept. 10 to 12 as well as the week-long National Day holiday that begins on Oct. 1.

Beef and egg prices rose by 1 percent and 0.4 percent, respectively, last week, while mutton and chicken prices inched up 0.3 percent and 0.2 percent, respectively.

Meanwhile, 18 staple vegetables saw an increase of 1.5 percent in wholesale prices last week, down 4.6 percentage points from the previous week. Wholesale prices of eight types of aquatic products stood unchanged week-on-week due to sufficient supplies.

The wholesale prices of minerals, nonferrous metals, raw materials for light industry, rubber and chemicals all rose, while the prices of energy resources, agricultural means of production and building materials reported mild drops.

Source:chinesestock