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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