KUALA LUMPUR, Dec 19 -- Overall supply of 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 held in south China’s Hainan Province.
The report shows that sufficient supplies of natural rubber on a global scale will continue in the short term due to the large production capacity.
The two enterprises 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 this month.
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.
According to CEIS vice-president Kuang Lecheng, the continuous release of rubber, areca nut and agarwood indices will help build brands of Hainan’s characteristic agricultural products.
-- BERNAMA
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