Yunnan proposed Coffee Futures Trading Center

Photo: coffee acquisition site

According to Li Gongqin, secretary general of the Yunnan Coffee Industry Association, the association and relevant government departments such as the Yunnan Provincial Department of Commerce, the Development and Reform Commission, and other relevant government departments are discussing and improving. It is hoped that in the next three to five years, the world's third largest coffee futures trading center will be established in Kunming after New York in the United States and Hamburg in Germany.

Li Gongqin pointed out that after the establishment of the Futures Trading Center, Kunming will have a warehouse for storing coffee beans, which can centralize coffee from entire Southeast Asian countries. at that time, the total amount of coffee will reach 2 million tons, accounting for about 25% of the world's total. At present, the China-ASEAN Coffee Industry Cooperation Committee has conducted exchanges with ASEAN countries, and ASEAN countries have also agreed to join. After the establishment of the futures electronic trading platform, there will be futures and spot trading platforms. For foreign procurement, it will reduce procurement costs and warehousing costs. At that time, the price of coffee beans in Yunnan will be self-controlled and will no longer be subject to the US futures market.

At present, relevant government departments in Yunnan Province have approved the establishment of an e-commerce trading platform for agricultural products. Li Gongqin said that although this is a spot trading platform, it can accumulate a lot of experience for future futures trading.

It is understood that the purchase prices of coffee beans in Yunnan, whether they are Nestl é, Starbucks as coffee giants, or local coffee companies such as Hougu, are set with reference to the latest New York coffee futures prices. Xu Guangyuan, an economic expert at Yunnan University, pointed out that coffee beans produced in Yunnan are also sold internationally in Brazil, Colombia and other producing countries, hoping that Yunnan's own-brand products can sell well in the international market. and this also requires a long industrial line and excellent product quality to support.

(responsible Editor: Leo)

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