Pork prices will also rise about 3 months

The prices of agricultural products remained flat in the second week of August. On August 17, the Ministry of Commerce announced the agricultural product price data from August 8 to August 14. The weighted average agricultural product prices showed a sequential growth rate of zero, indicating that the overall level of agricultural product prices was unchanged from the previous week. The price of pork is basically the same, and it will continue to increase for three months. In the nine major categories of agricultural products, the chain's growth rate of meat prices was unchanged from last week, at 0.2%, of which pork prices rose slightly. We believe that although the year-on-year high of pork prices may have passed, the pork price will also increase by about three months from the previous price cycle, not much. After 3 months, pork prices will enter a downward accompaniment as the supply of live pigs rises sharply. The decrease in the decline of vegetables and the growth of grain-dominated agricultural products prices remained stable. The decline in vegetable prices narrowed for the second consecutive week and fell only 0.3% this week, indicating that vegetable prices may increase as the supply season gradually ends. The price growth of agricultural products using grain as raw material continued to remain stable with a growth rate of 0.2% from the previous period. This week, the growth rate of grain prices fell further. We believe that the food-driven price increase will continue to weaken.