Saturday, June 9, 2012

Commodities: "Egg, garlic prices surge in China"

From Xinhua via China Daily:
China has seen egg and garlic prices surge over the past two weeks despite expectations that inflation will further moderate, drawing calls for better distribution and information services to stabilize farm produce prices.

The average price of fresh eggs soared nearly 20 percent from May 21 to Tuesday, the fastest increase recorded, according to latest statistics from a farm produce price monitoring system run by Xinhua News Agency.

In six provinces and cities including Beijing, egg prices rose by more than 30 percent in that period.
From May 21 to Monday, the country's average garlic price jumped more than 30 percent, the monitoring results show....MORE
In 2009 and 2010 there were dramatic moves in the price of "the stinking rose".
From November of '09 a link to an FT Alphaville post:

Commodities: "Is China preparing for a vampire attack?"
How the heck did I miss this trade?
[maybe you were preoccupied with all the babbling about the grease/tallow/lard complex? -ed]
From FT Alphaville:
We’ll get right to the point: garlic has outperformed gold and stocks in China becoming the country’s best performing asset this year, according to a Reuters report.
And no, the trigger has not been a sudden fear of vampire squids in China....MORE