The China Shouguang vegetable price index, a barometer of the country's vegetable market, fell 2.99 percent to 137.7 points on Jan 1.

The closely-watched vegetable price index was published daily by the city of Shouguang, Shandong Province, China's major vegetable production base and its vegetable distribution and price-setting center.

The index was approved by the Ministry of Commerce in 2010 and first published on April 20, 2011 to offer more timely and accurate reference for vegetable growers and traders.