Xinhua Silk Road: Annual analysis report on taro price index released at the 2024 Boao Forum for Entrepreneurs

BEIJING, Dec. 5, 2024 /PRNewswire/ -- The annual analysis report on the taro price index was released during the 2024 Entrepreneurs Boao Forum on Monday, which plays a vital role in integrating the taro industry with finance and technology through digitization, further boosting the high-quality development of the taro industry in Hezhou, south China's Guangxi Zhuang Autonomous Region.

Hezhou has adopted an industrialized approach and an innovative mindset to foster the cluster development of the traditional taro industry, turning taro into a new growth driver that revitalizes the consumer market.

"Hezhou is not only one of the largest areas in China for continuous taro planting, but also home to major clusters of taro processing, such as Babu District and Pinggui District. Meanwhile, our products are exported worldwide," said Quan Changwen, director of the Hezhou municipal bureau of agriculture and rural affairs.

Meanwhile, the taro planting in Hezhou covers an areas of over 170,000 mu (around 11,333 hectares). The city has fostered 31 taro processing enterprises with an annual processing capacity exceeding 270,000 tonnes. Empowered by overseas warehouses and cross-border e-commerce platforms, taro products from Hezhou are exported to regions such as Southeast Asia, Europe, and North America. In 2023, the city exported 1,670 tonnes of taro worth 31.5 million yuan (around 4.32 million U.S. dollars).

The price index of agricultural products, which combines the digital economy with the agriculture and forestry, has become a powerful engine for many regions to deepen market-oriented economic reforms, enhance brand influence, and promote the sustainable industrial development. The release of the taro price index gives a major boost to upgrading Hezhou's industrial ecosystem, building the brand of Hezhou Taro and enhancing its influence in pricing.

Furthermore, the release of the price index will not only offer multi-dimensional market insights and data guidance for the taro industry, but will also enhance the impact of Hezhou Taro as it expands its market reach, according to insiders.

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