KUALA LUMPUR, Nov 7 (Bernama) – China Economic Information Service (CEIS) of Xinhua News Agency, the government of Pu'er City and Yunnan International Coffee Exchange jointly released the Xinhua-Yunnan (Pu'er) Coffee Price Index in Beijing, China recently.
The index aims to raise the brand influence and international visibility of the coffee produced in southwest China's Yunnan Province.
According to CEIS in a statement, the index also provides reference for government monitoring, scientific planting and trade decision.
The index system covers Xinhua-Yunnan (Pu'er) Composite Price Index and Xinhua-Yunnan (Pu'er) Single-item Price Index. It samples raw coffee beans produced in five major coffee producing areas – Pu'er, Dehong, Baoshan, Lincang and Xishuangbanna in Yunnan.
The data showed that the Xinhua-Yunnan (Pu'er) Composite Price Index has presented a downtrend since the base period (Nov 3, 2017). The index reported 812.69 points on Oct 12, 2018, down 3.59 points compared with the previous period and 187.31 points or 18.73 percent from the 1,000 points in the base period.
“As China's largest coffee planting base, Yunnan needs an authoritative, influential and fair price index system to reflect trends in the coffee industry,” said vice governor of Yunnan Province, Zhang Guohua.
Guohua said the release of the index will strongly promote the extension and upgrading of Yunnan's coffee industrial chain as well as the targeted poverty alleviation by means of the industry.
Meanwhile, vice president and secretary general of Xinhua News Agency, Liu Zhengrong said the release will play an important role in price and market guidance, pushing forward Yunnan's coffee industry development, increasing the incomes of the coffee growers and promoting orderly development of China's coffee market.
-- BERNAMA
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