Vegetable Price Pengzhou (Yurun) Index Issued in Real Time

       On Nov. 1, the Fourth China • Sichuan (Pengzhou) Vegetable Fair was opened solemnly at the Yurun • Sichuan International Agricultural Products Trade Center. At the opening ceremony, the “Vegetable Price Pengzhou (Yurun) Index” jointly prepared by Yurun Group and the Pengzhou City People’s Government was issued grandly at the first moment. Qi Xuchun (vice chairman of the CPPCC, and vice chairman of The Revolutionary Committee of the Chinese Kuomintang), Yao Shaopin (a member of the Leading Party Group of the Ministry of Agriculture, and chief economist), and leaders from the Department of Agriculture, the Department of Science and Technology, and the Department of Business of Sichuan Province, as well as Jiang Yonggui (president of Yurun Agricultural Products Group) and Nie Fuqiang (professor of the Southwestern University of Finance and Economics), attended the issuance ceremony.

       At the opening ceremony, Jiang Yonggui, president of Yurun Agricultural Products Group, made a speech on the issuance of “Vegetable Price Pengzhou (Yurun) Index”. He said, “As China’s second vegetable index after Shandong Shouguang, ‘Vegetable Price Pengzhou (Yurun) Index’ will certainly further strengthen the influence and voice of Pengzhou and Sichuan vegetables in the whole country, and inject more powerful impetus for promoting the planting of vegetables, and the upgrading and development of circulation industry in the whole western region.”

 

       “Yurun” general pattern provided a price platform.

       The Yurun• Sichuan International Agricultural Products Trade Center Vegetable Market, since starting operation successfully in July 2012, has realized a daily average vegetable trade volume of around 10,000t, peak a daily trade volume of 12,000t, and an annual trade amount of nearly RMB10 billion. The vegetables are sourced from every place, city and prefecture of Sichuan Province, and other places of China, as well as Viet Nam, Laos, and Burma.; the sales covers a scope of more than 500km in radius, the whole western region, and even as far away as Xinjiang and Tibet, forming the general circulation pattern of “buying from and selling to the whole country”. The “Vegetable Price Pengzhou (Yurun) Index” is just formed based on the price platform, and it plays the role of a vane for the vegetable market quotations of Sichuan and even the whole country.

       The Center’s fruit trading area covers a floor space of 450mu and a building area of 142,000m2, and may provide 996 standard trading stalls equipped with refrigeratory (baking room) and business office, and 3 air-conditioned fresh-keeping storehouses covering a building area of nearly 26,000m2 and having a standard storage capacity of 12,000t. On condition that the Simaqiao Old Market is not closed, the Fruit Market has initiatively figured out ways and grasped opportunities to stabilize customers and maintain operation. The goods traded include varieties of fruits from domestic important fruit production areas (such as Hainan, Gansu, Xinjiang, Shaanxi, Shandong, Guangxi, and Jiangxi) and foreign countries (such as Thailand, Viet Nam, USA, and Chile. Taking the opportunity of Chengdu’s “Reform of North Urban Area”, the Center’s Fruit Market started the first-stage trial operation successfully. At present, the second-stage operation of the Fruit Market will be started soon.

       The successful issuance of the “Vegetable Price Pengzhou (Yurun) Index” will become a barometer reflecting the vegetation market quotations of Sichuan and even the whole country, provide abundant, correct and timely information on vegetable market quotations for plentiful planters and marketers, guide the adjustment and optimization of regional vegetable variety structure, lower vegetable peasants’ operating risk and raise their income. Its issuance will guide the adjustment and optimization of regional vegetable planting structure and variety, effectively strengthen governmental competent department’s ability of production instruction and market warning and control, and enhance the possibility for the hosts of peasants to increase income and lower risks.

 

       Professional team ensures index issuance.

       The vegetable price index formed on the basis of the price platform of Yurun Group Sichuan International Agricultural Products Trade Center covers more than 70% vegetables in season in the market; trade information collectors have accepted and passed professional training, and could control the permissible error information to be within 5%; it’s determined to collect data at 0:00-9:00a.m. and announce the price and index information of the very day before 5:00p.m. every day. The data analysis may be broadcast in a real-time way through the two 28m2 P10 high-brightness LED screen outside the building of the Information Center, in order to ensure a seamless connection with the government’s related information center. The Center has three network platforms: the business network supports the business systems of the whole trading area’s exit/entry volume management, electronic transaction, electronic settlement, inspection and test, tracing management, refrigeration and distribution, and e-commerce,; the management network mainly undertakes financial management business, data reform, human resources management, OA system management, and multi-media conference.; and the monitoring network takes charge of video monitoring business, and realizes monitoring function, recording function and dynamic monitoring.

       In order to meet the requirement on timeliness of information issuance, the Center has integrated data entry, index calculation and issuance into the market’s enterprise informatization system. After the original data entry and examination, the system will calculate and save all related indexes automatically at 4:00 p.m. every day. In this way, at the official website of Yurun Sichuan International Agricultural Products Trade Center, we may inquire about the real-time price and index information. Meanwhile, the Center provides a corresponding network interface, so that other third parties may access corresponding price and index information directly, and integrate such information into their system.

       On the whole, the preparation of vegetable price index is a complicated systematic engineering. This online issuance is just a start, and along with the passing of time, there will be many long-term things to do, such as the calculation of derivative indexes, the alternation of varieties, market analysis, and system establishment for the whole work. Through the usual solidarity and coordination of the three parties, Yurun Group, Pengzhou City Government, and Expert Panel of the Southwestern University of Finance and Economics, the Vegetable Price Pengzhou (Yurun) Index will certainly become the main part of regional vegetable price information in China.