Nanhua Futures: Continue to carry out the natural rubber “insurance + futures” project to help rural revitalization with practical actions
Rubber is widely used and has a huge impact on human technology and life. However, the price of natural rubber is often affected by weather conditions, agriculture, policies, substitutes and other factors, showing a wide fluctuation trend. To this end, Nanhua Futures has carried out the natural rubber “insurance + futures” service rural revitalization project in the main producing areas of Hainan and Yunnan, respectively, to add confidence to local rubber farmers to tap rubber.
Mengla County is a former state-level poverty-stricken county in Yunnan Province, with a rubber planting area of 2,298,600 mu and a dry rubber output of 184,100 tons. Rubber is the main source of income for farmers in the county. It is reported that in 2022, with the support of the Shanghai Futures Exchange, Nanhua Futures will launch the natural rubber “insurance + futures” project in Mengla County for the first time, with a total insured amount of 32.0625 million yuan. 30% of the funds are used for commercial “insurance + futures” projects, with an insurance amount of 6.0275 million yuan. This project has effectively played the function of avoiding price risks in the futures market, guiding and integrating the resources of the two major industries of insurance and futures, helping rubber farmers to increase their incomes and rubber enterprises to increase their efficiency, and promoting the development of the natural rubber industry.
According to reports, in Baisha Li Autonomous County, Hainan, Nanhua Futures has carried out the Shanghai Futures Exchange’s “insurance + futures” pilot project for three consecutive years, underwriting 11,500 tons of natural rubber, covering a total of 75,655 farmers in three years, with a premium of 9.375 million yuan. In 2022, the project will have a total insurance premium of 2 million yuan, underwriting 2,500 tons of natural rubber, and covering 27,009 rubber farmers, including 9,827 poverty alleviation households (original registered cardholders). The rubber tapping income has been well guaranteed. This project is to “steadily expand the insurance + futures pilot” in Baisha Li Autonomous County, forming a long-term sustainable management model for the risk of price fluctuations in the natural rubber market.
Li Beixin, chairman of Nanhua Capital, said that the “insurance + futures” project will tilt financial resources to rural areas, provide farmers with an effective price risk management tool, and allow rubber farmers to enjoy the benefits of financial services for the real economy. In the next step, the company will cooperate with PICC Property and Casualty to pay the claim settlement amount to every insured rubber farmer as soon as possible, so that the rubber farmer can truly get the benefits of “insurance + futures”.Return to Sohu, see more
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