Ministry of Commerce: Rice Retail Price Increases 0.6%

Business forecasts show that last week (November 22-28) domestic retail prices of small packaged rice rose by 0.6%.

According to the Ministry of Commerce on December 1st, business forecasts: Last week (November 22-28) domestic retail prices of small packaged rice rose by 0.6%.

Judging from the 34 large and medium-sized cities monitored, retail prices of rice in small packages rose in 27 cities, prices in five cities remained flat, and prices in two cities fell. Among them, Tianjin, Xining and Jinan prices rose by 1.2%, 1.2% and 1.1% respectively; Haikou and Wuhan prices dropped by 1.2% and 0.6% respectively; Harbin, Hohhot, Urumqi and Kunming prices were unchanged from the previous week.

There is sufficient supply of Chinese japonica rice, and the price increase of japonica rice in the later period is expected to slow down, which in turn will drive the price increase of small package rice down.

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