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China hit hard by ballooning commodity prices

Posted on 25 November 2011

China imported commodities at much higher prices in the first 10 months of 2011, with the prices of crops, refined and crude oil imports jumping by more than 30% compared to the same period a year ago, the National Development and Reform Commission said.

Between January and October, China’s imported grain prices were up 47.9% year on year to $377.7 per ton, imported soybean prices were up 29.8% year on year to $573.9 per ton, imported cotton prices were up 61.7% year on year to $2,972 per ton, imported edible vegetable oil prices were up 38.4% year on year to $1,175 per ton, and imported sugar prices were up 35.4% year on year to $689.2 per ton, customs statistics show………………………………………Full Article: Source


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