Large Medium Small |
Editor's note: A number of commodities saw price hikes in 2010. Among these, soaring prices of agricultural commodities pushed the consumer price index (CPI), the major gauge of inflation, to a record high of 5.1 percent. While some prices have moderated due to government regulatory measures, others are expected to remain high for a longer period.
1. Garlic
|
A vendor selling garlic waits for customers at a market in Beijing in this file photo taken in 2008. [Photo / Reuters] |
In the meantime, increased exports of garlic and growing demand in the domestic market have fueled price hikes
Garlic prices peaked and surpassed the price of pork across the country during the summer. They have been gradually declining since November.
Related readings:
Price of fresh garlic rises day by day
Garlic: Gold for only a few
Garlic farmers denied due profit
Govt steps up efforts to curb rising garlic prices
2. Peppers
|
Peppers produced in Qiongzhou, Hainan province. [Photo / Asianewsphoto] |
In March, pepper prices doubled and even tripled in many cities across China. In Beijing, the price surged more than three times, according to industry data.
Pepper prices jumped around the middle of year, shooting up 10 times to 40 yuan ($6.03) a kilogram from 4 yuan a kilogram in some major cities.
Related readings:
Peppers sales slump due to lack of demand
3. Potatoes
|
A farmer collects potatoes in a field at a village of Qinyuan county, Shanxi province in this file photo taken in 2008. [Photo / Reuters] |
While the soaring prices have swelled the wallets of many potato farmers, they have also pushed many starch processing factories to the brink of bankruptcy, domestic media reported.
Related readings:
Potato brings new wealth to W China
Potatoes are root of the solution
China pins food-security hopes on humble potato
China launches anti-subsidy probe into potato starch from EU
4. Mung beans
|
Mung beans in sale in a supermarket in Beijing. [Photo / Asianewsphoto] |
In July, in a bid to crack down on hoarding and speculation, the National Development and Reform Committee (NDRC) imposed high fines on those companies trying to gain a stranglehold on the market, with a maximum fine of 1 million yuan.
The price gradually declined over the following two months.
Related readings:
Speculators drive the prices of mung beans up
Good harvest is around China this autumn
Blame it on speculators and hot money
Battle of the beans
5. Ginger
|
Ginger in a market in Dongyang, Zhejiang province. [Photo / Asianewsphoto] |
The price peaked in the following month at 6.6 yuan a kilogram, increasing 18.2 percent year-on-year, according to industry data. In Jiangsu, Tianjin and some other places, surges in August were as high as 30 percent.
The price further increased by 20 percent to 9.59 yuan a kilogram within 10 days in September in Xi'an, Shaanxi province, according to local government figures.
Related readings:
Family thinking thrifty to save cash
Chinese fight against price hikes
Spike in prices rings alarm in vegetable industry
Price increase has not helped farmers
6. Corn
|
Farmers air corn in Lianyungang, Jiangsu province. [Photo / China Daily] |
In April, the price increases reached such a point that the NDRC and the State Grain Administration launched a corn stockpile auction to calm the situation.
Relevant government agencies implemented a number of polices in the following months to cap the price hikes and crack down on speculation.
According to data released by the National Bureau of Statistics, China's corn output was projected at 169 million tons, increasing 3.1 percent year-on-year by the end of 2010, alleviating expectations of price surges.
Related readings:
China able to guarantee corn supply: official
Corn imports set to slow
Corn imports to help curb soaring prices: NDRC
China curbs corn auction buying as stockpiles fall
7. Cotton
|
Two workers load cotton for transport in Hami, the Xinjiang Uygur autonomous region, on Nov 3. [Photo /China Daily] |
Rapid price increases occurred in August. Higher raw material and labor costs have put a great strain on the entire clothing industry, with numerous small and medium-sized companies pushed to the brink of bankruptcy.
In September, the price of cotton cloth was reported to have increased by more than 20 percent, and cotton futures jumped to an historic high.
Related readings:
High cotton price hits cost of clothing
Cotton prices to extend rally
Living cost mounts in China as cotton, food prices surge
Jiangsu's cotton imports surge 280%
8. Vegetables
|
A vendor sits in front of a pile of vegetables as he waits for customers at the Xinfadi open-air wholesale market in Beijing on Nov 23. Traders are also feeling the pressure. [Photo / Reuters] |
Propelled by seasonal increases, prices have surged significantly since November, according to data released by the Ministry of Commerce.
In the first 10 days of November, average wholesale prices for 18 types of vegetable in 36 cities surged 62.4 percent year-on-year, said the ministry.
Related readings:
China's vegetable prices up 62.4% year-on-year
Low-income groups feel the pinch under soaring prices
Rising prices foster growing vegetables
City rooftops become vegetable gardens
9. Sugar
|
White sugar in sale in a supermarket in Yichang, Hubei province. [Photo Asianewsphoto] |
Hikes were mainly attributed to soaring prices in the international market, reduced domestic processing and speculation, according to industry insiders.
Related readings:
China to auction State sugar reserves to curb price rises
China's sugar output to drop 10% amid severe drought
No sweet solution to sugar shortage
China to sell sugar reserves to make up possible short supply
10. Chinese Medicinal Herbs
|
Two herbalists at Hedantang Pharmacy in Chaoyang district weigh TCM ingredients. [Photo / China Daily] |
More than a quarter of medicinal herbs used in traditional Chinese medicine have increased in price by between 50 percent and 100 percent in 2010, according to a report released by the Association of Traditional Chinese Medicine in November.
For a small group of herbs, the increase has been more than 300 per cent, said the report. Concerns have been raised over the growing cost of traditional medicine, and pharmaceutical companies were reported to have stopped producing Chinese patent medicines due to the high costs.
Bad weather, rising demand and speculation were regarded as the major reasons behind the hikes.
Related readings:
Traditional medicine prices are elixir for sellers
TCM continues to find favor with Chinese
Qualified herbalist pool dries up in city
Exports of TCM reaches $1.46b: official