ANNUAL REPORTS DEBUT ON BOAO FORUM FOR ENTREPRENEURS

 

KUALA LUMPUR, Dec 28 (Bernama) -- 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.

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 digitalisation 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 one of the three reports – 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.

Meanwhile, the other two annual reports are the China banana industry development report (2020-2021) and China agarwood industry climate index report (2021).

The reports are typical achievements of the province in crafting itself into an international tropical farm produce indices publishing center.

-- BERNAMA