Spotlight on farm product price rise

From: China Daily | Date: June 14, 2007| Author: | Copyright information

The headline-grabbing surge in pork prices has brought into sharp focus the rising trend of prices of a wide range of agricultural produce in the spot and futures markets.

Take soybean oil. The most actively traded soybean oil futures contract for delivery in September soared to a seven-year record of 8,048 yuan a ton this week on the Shanghai Futures Exchange (SFEX).

Agriculture analysts predict the uptrend will continue in coming months. "I expect it (soybean futures price) will reach 10,000 yuan (a ton) by 2008," said Ma Xiaofei, an analyst at China International (Shanghai) Futures Co.

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