How is Yunnan Coffee Price Index released

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Economic Daily-China Economic Network, Beijing, November 2 (Reporter Zhou Lin) Xinhua Yunnan (Pu'er) Coffee Price Index was officially released in Beijing a few days ago, attended by Liu Zhengrong, vice president and secretary general of Xinhua News Agency, and Zhang Guohua, vice governor of Yunnan Province. The price index aims to enhance the influence and international awareness of coffee brands in Yunnan Province, and to provide weather vane, barometer and lightning rod for government monitoring, scientific planting and trade decision-making. The index is jointly compiled and released by the China Economic Information Society, the people's Government of Pu'er City, Yunnan Province and the Yunnan International Coffee Trading Center. The index system covers "Xinhua Yunnan (Pu'er) Comprehensive Price Index" and "Xinhua Yunnan (Pu'er) single Product Price Index". The area covers five main coffee producing areas in Yunnan Province, namely, Pu'er, Dehong, Baoshan, Lincang and Xishuangbanna.

Zhang Guohua said: at present, Yunnan accounts for more than 98 percent of the country's coffee planting area and total output, and is the largest coffee grower, trade distribution center and export center in China. The development of coffee industry urgently needs to formulate a set of price index system with strong authority, wide influence and high fairness, which reflects the sunshine, rain and wind direction of the changing trend of coffee industry by providing true, sensitive and systematic price information. in order to strengthen the foresight ability of policy planning and the early warning ability of market operation, and promote the stable and healthy development of the industry. The release of coffee price index will effectively promote the extension and upgrading of Yunnan coffee industry chain and accurate poverty alleviation of the industry.

Liu Zhengrong said that a number of industries with unique Yunnan characteristics have formed a brand cluster effect, which is well-known at home and abroad, including Yunnan "small-grain coffee", which is called "fragrant coffee". The release of Xinhua Yunnan (Pu'er) coffee price index is in line with the status of Yunnan coffee in the national coffee industry and industrial representativeness. it will play an important reference value in price guidance and market guidance in the future. it will be beneficial to the development and influence of Yunnan coffee industry, increase the income of border minority coffee farmers, and at the same time, it will also be beneficial to the healthy and orderly development of China's coffee market.

"the project team went to Pu'er City, Baoshan City, Xishuangbanna, Dehong Prefecture and other key coffee growing areas in Yunnan Province to conduct in-depth research, established more than 10 information collection points successively, and finally expanded the index index system from the original 15 items to more than 60 items. The index can not only provide the government with a macro decision-making basis, but also provide price guidance for manufacturers to purchase and sell, and more directly serve the increase in production and income of farmers. " Hu Guoyun, executive vice mayor of Pu'er City, said.

The operation results show that since the base period (November 3, 2017), the Xinhua Yunnan (Pu'er) coffee composite price index showed a downward trend of concussion. On October 12, 2018, the index was at 812.69 points, down 3.59 points from the previous period and 187.31 points, or 18.73%, from the base period (1000 points). The analysis shows that the decline in the price of coffee in China is mainly affected by the price drop in the international coffee market.

The running results also show that the premium space of high-quality coffee beans is large and the anti-falling ability is strong. Compared with the base period, on October 12, the price of boutique secondary coffee beans rose slightly by 3.72%, while other varieties fell by more than 10%, of which commercial grade III and below coffee beans fell by more than 25%. This shows that the cultivation of high-quality coffee beans is the direction of industrial development in the future.

"the release of Yunnan Coffee Price Index will comprehensively enhance the brand influence and international popularity of Yunnan coffee industry, starting with the scientific and authoritative quantitative index, provide effective support for the development of Yunnan coffee industry, constantly grasp the price say of Yunnan coffee matching quality, and help farmers and enterprises to increase their income and become rich, which will make a great contribution to the development of Yunnan coffee industry." Shu Yang, general manager of Yunnan International Coffee Exchange Center, said.

Thomas Jackson Mitchell, a consultant to the Coffee quality Institute, said that historically low coffee prices, rising production costs, pests, global warming and unstable coffee commodity markets all pose challenges to the sustainable development of the coffee industry. In order to ensure the healthy development of the coffee industry, our primary task is to achieve higher transparency, develop new technologies, build a new service platform, and provide targeted support for farmers. The release of the coffee price index is exciting news for China's coffee industry and even for the global coffee industry. This clearly shows that China has the potential to become a real leader in the coffee field.

Yunnan Coffee Trading Center was listed in Pu'er in July 2014 and changed its name to Yunnan International Coffee Trading Center on December 29, 2016.

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