Following Caijing Magazine’s recent expos√© on price fixing by naughty food cartels, the government announces plans to suss the problem. AP via the International Herald Tribune:
Investigators will look into why prices of grain, vegetable oil, pork, beef, mutton, and poultry are rising so fast, the National Development and Reform Commission said on its Web site.
Food prices in June were up 7.6 percent from the same month last year, driven by a 74.6 percent jump in prices for pork, China’s staple meat.
…Authorities have ordered measures to increase supplies of pork and other basic goods. [Full Text]