HAIKOU, China, Dec. 23, 2019 /PRNewswire/ -- Overall supply of the natural rubber is expected to be tight in the first quarter of 2020, which will likely lead to the continuous rising of rubber prices, according to an annual report on the Xinhua-HSF natural rubber series price indexes (2018-2019). The report was released jointly by China Economic Information Service (CEIS) of Xinhua News Agency and Haiken Group (HSF) at the 2019 Boao Forum for Entrepreneurs recently held in south China's Hainan Province.
Reports on rubber, areca nut and agarwood indices are released at a forum in Boao, south China's Hainan Province, December 1, 2019.
The report shows that the sufficient supplies of the natural rubber on a global scale will continue in the short term due to the large production capacity. The two enterprises at the forum also released a report on the areca nut industry in 2018-2019. The report shows that without a significant increase in the demand side, the areca nut fruits purchase price is expected to decline in December this year.
Meanwhile, CEIS and Chengmai County Government of Hainan Province released a report on the climate index of the agarwood industry. The report reveals that China's agarwood industry climate index in the first half of 2020 will be 130.19 points, well above the 100-point, implying the domestic agarwood enterprises' high expectations for the industry development.
"Chengmai County is the 'hometown of agarwood of China'. In the past three years, the average annual growth rate of agarwood planting area in Chengmai was 10.17 percent," said He Chunlong, deputy chief of Chengmai County.
The continuous release of rubber, areca nut and agarwood indices will help build brands of Hainan's characteristic agricultural products, said Kuang Lecheng, vice president of CEIS.
CEIS is the main body responsible for the integrated management and operation of economic information business of Xinhua News Agency. It undertakes four major information service platforms, namely the national financial information platform "Xinhua Finance", the Belt and Road-centered comprehensive information service platform "Xinhua Silk Road", the national credit information service platform "Xinhua Credit" and the "Xinhua Indices".
Haiken Group, a solely state-owned enterprise by the People's Government of Hainan Province, boasts sound industrial basis of natural rubber, tropical agriculture, livestock breeding, tourism real estate, trade logistics and financial service.
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