Annual reports debut on Boao Forum for Entrepreneurs to help Hainan build int’l tropical farm produce indices publishing center

Three annual reports on natural rubber price indices, banana industry development and agarwood industry climate index were released on the 2021 Boao Forum for Entrepreneurs held in Hainan, a coastal island province in South China recently.

The three reports, namely Xinhua-Hainan State Farms (HSF) China natural rubber series price index report (2020-2021), China banana industry development report (2020-2021) and China agarwood industry climate index report (2021), are typical achievements of the province in crafting itself into an international tropical farm produce indices publishing center.

Since 2018, the province has been required to construct an international transaction, pricing and price indices releasing center for tropical farm produces including mainly the natural rubber.

From then, Xinhua-run China Economic Information Service, the People’s Government of Chengmai County in Hainan Province and Hainan State Farms Investment Holdings Group Co., Ltd. have jointly incubated a series of price indices for a dozen of tropical farm products such as natural rubber, banana, pepper, and agarwood.

With the indices family, tropical farm produce digitalization and brand construction forged ahead in Hainan and helped the province build its influences and advantages in international tropical agriculture and fostered high-quality development of the Hainan Free Trade Port.

As the Xinhua-Hainan State Farms (HSF) China natural rubber series price index report (2020-2021) tells, natural rubber prices generally fluctuated at high levels during 2020 and 2021 due to the climbing shipping costs and operation conditions of downstream factories amid the global COVID-19 pandemic, production area climate change and bulk commodity market volatility. In the coming production season in 2022, industry players shall pay extra attention to the influences of La Nina phenomenon on progresses of cutting in natural rubber production areas to judge the price trends.

According to the China banana industry development report (2020-2021), China’s banana imports underwent structural changes, with imports in border areas of the country down 28.2 percent year on year, sales recovery of bananas in northern Myanmar unblocked and imports of bananas from Cambodia up notably. Under such circumstances, the report suggests that banana industry in Chinese provinces, in particular Hainan to actively seize opportunities to beat drum for homegrown bananas by enhancing industry chain standards construction and quality control.

The China agarwood industry climate index report (2021) showed that consecutive breakthroughs in plantation and producing techniques have shorten the cycle of agarwood production in recent years. When the agarwood industry size keeps expanding, the industry needs integrated development and establishment of product supply chain tracing system to promote products standardization and boost brand effects.

Source: China Economic Information Service

 

Caption: The scene for releasing achievements on construction of international tropical farm produce indices publishing center in Hainan.