Country for PR: China
Contributor: Xinhua News Agency
Friday, January 12 2018 - 19:01
Xinhua-Changshan Camellia Oil Price Index Officially Launched
BEIJING, China, Jan. 12, 2018 /Xinhua-AsiaNet/--

The Xinhua-Changshan camellia oil price index, jointly compiled by China 
Economic Information Service (CEIS) under Xinhua News Agency and the government 
of Changshan County in Zhejiang Province, was launched on January 6.

"The Xinhua-Changshan camellia oil price index reflects the changes of the 
factors affecting the whole camellia oil industry chain, which will help to 
increase the influence and pricing power of China's camellia oil industry in 
the world and also boost income for camellia oil farmers, " said Su Huizhi, 
vice president of CEIS.

The index is based on producer prices of camellia oil companies in Changshan 
and fully reflects price trends of raw material (upstream), oil products 
(midstream) and secondary products (downstream). The index starts from 1,000 
with the prices in November of 2015 as the base data.

Since the base period, the index witnessed a year-on-year growth. The aggregate 
price index inched up 79.25 percent in December, 2017 compared to that of the 
base period. Meanwhile, the price index for raw materials, oil, and by-products 
surged 63.37 percent, 72.68 percent, and 183.72 percent respectively.

Liu Zhiwei, Executive Vice Secretary-General of the Woody Oil Division of 
Chinese Forestry Industry Association, said that Xinhua-Changshan camellia oil 
price index plays a decisive role in the allocation of market resources, 
improves the efficiency in market operation, and boosts the high-quality 
development of camellia oleifera seed oil.

CEIS is a wholly-owned company of Xinhua News Agency, and boasts five 
national-level platforms including Xinhua Finance, Xinhua Silkroad, Xinhua 
Credit, Shanghai Petroleum and Natural Gas Exchange (SHPGX) and Xinhua Think 
Tank. Since its restructuring in April 2016, CEIS has launches a series of 
products with widespread impact.

Source: China Economic Information Service (CEIS)

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   Caption: Xinhua-Changshan camellia oil price index officially launched