Vegetable and egg prices generally rose slightly

The Ministry of Commerce released monitoring data yesterday: from September 6 to 12, the market prices of edible agricultural products and means of production both showed a slight increase of 0.5% compared with the previous week. Among them, vegetable prices stopped falling and rebounded, while egg prices continued to rise by 1.5%.

According to Ministry of Commerce data, the average wholesale price of 18 major vegetables rose by 1.3%, with only three vegetables - cabbage, long beans and celery - showing slight declines. Meat, aquatic products and flour-based edible agricultural products all rose across the board, but the average increase did not exceed 0.5%.

The Ministry of Commerce believes this was mainly due to the approach of the National Day and Mid-Autumn Festival “double holiday”, which boosted demand for edible agricultural products. Investment institutions, however, believe that looking at global agricultural product prices, the upward trend has not changed. At present, net speculative positions of speculative funds in the US agricultural and soft commodity markets have already exceeded the previous historical record for net longs set in the first half of 2008. Among them, the CBOT wheat price is already nearly 68% higher than its June low.