Postcard From No 528

Rustic stock picks and Goldman Sachs

  • Published 03 Sep 2009

Who are the beneficiaries of China's rising food prices?

"All of a sudden fruit is as expensive as meat!" Jun Hu, a Shanghai Pudong resident complained this week. He had to hand over more than Rmb 25 for a kilo of grapes in a local market. "I could get the same amount for as little as 10 yuan last year," he said. That's not all - meat, eggs, bean curd and vegetables are all rising in price at the moment. And this isn't being helped by continuing floods in the south and droughts in the north hurting harvests.

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