Traders, market regulators and economic planners are all expected to benefit from market warnings.

The service will cover major farm produce and animal products on the local market, including vegetables, animal products, seafood, edible mushrooms, flowers and fruit, according to Dai Ping, director of the Shanghai Agricultural Information Center.

The service will have three major functions - data collection, market analysis and information release. A group of professional analysts working for it will produce periodic market analysis reports and give out timely warnings of sharp market fluctuations.

As well as a monthly market report for the local government, it would also offer stable information analysis and a warning servicef or traders, Dai said.

Trade in farm produce from both China and abroad is now growing in Shanghai, according to a local agricultural official.

As part of its efforts to build itself into one of the most important farm produce trading hubs in China, Shanghai has recently launched an intermediary platform for the country's agricultural products to hook up to the international procurement network.

(Xinhua News Agency February 5, 2003)