Country for PR: China
Contributor: Xinhua News Agency
Wednesday, November 07 2018 - 18:18
Xinhua-Yunnan (Pu'er) Coffee Price Index officially unveiled in Beijing
BEIJING, China, Nov. 7, 2018 /Xinhua-AsiaNet/ --

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 on November 1.

The index aims to raise the brand influence as well as international visibility 
of the coffee produced in southwest China's Yunnan Province and provide the 
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 of Pu'er, Dehong, Baoshan, 
Lincang and Xishuangbanna of Yunnan.

As China's largest coffee planting base, Yunnan needs an authoritative, 
influential and fair price index system to reflect trends in the coffee 
industry, and the release of the coffee price 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, said Zhang Guohua, vice 
governor of Yunnan Province.

The release of the index will definitely 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, noted Liu Zhengrong, vice president and secretary 
general of Xinhua News Agency.

The data showed that the Xinhua-Yunnan (Pu'er) Composite Price Index has 
presented a downtrend since the base period (November 3, 2017). The index 
reported 812.69 points on October 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.

It also showed that high-quality coffee beans had large premium space and 
strong resistance to fall in price. As compared with the base period, the 
secondary fine coffee beans witnessed a slight increase of 3.72 percent on 
October 12, while other varieties all witnessed a decrease of over 10 percent, 
indicating that cultivating high-quality coffee beans is the direction of the 
future industrial development.

CEIS is a wholly-owned company of Xinhua News Agency. As China's first 
professional institution studying, releasing and operating composite indices, 
Xinhua Indices of CEIS has been committed to building four product systems: 
Xinhua Price Index, Xinhua Theme Index, Xinhua Evaluation Index and Xinhua 
Finance Index, and launched a series of influential products.

Source: CEIS

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