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4Q grain prices in 2006 up 4.15%

(Xinhua)
Updated: 2007-02-06 15:21

China's grain prices went up 4.15 percent in the fourth quarter last year,year on year, to average 1.56 yuan per kilogram, according to the latest report from the National Bureau of Statistics (NBS) Monday.

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Grain prices dropped by 1.43 and 0.24 percent in the first two quarters, and then surged 3.14 in the third quarter.

Producer goods hikes have been linked to the grain price hike, the report said.

The government has pursued its minimum purchase price policy to strengthen control of grain production, including wheat for the first time in 2006.

The price of wheat went up 2.1 percent year on year in the fourth quarter. Soybean prices went up 2.1 percent and corn was up 7.5 percent, said the report.

The grain price hike also contributed to a 1.4-percentage-point growth in the price of farm produce, which surged by 5.54 percent in the fourth quarter.