Xinhua Index: China Agarwood Price Index Posts One Gain and Six Losses in September, Seedlings Lead the Decline
· 2026-11-02· 伍佰艺沉香编辑· 5 views
One Gain, Six Losses: Only Incense E-Commerce in the Green
According to the agarwood price index monitoring released by Xinhua Finance (China Financial Information Network) on October 28, 2026, China's agarwood price index for September 2026 showed a pattern of one gain and six losses. Among the seven tracked indices, only the China agarwood (incense) e-commerce index closed at 685.36 points, up 18.32 points or 2.75% month-on-month, lifting the average e-commerce price to RMB 31.33 per item. All six others declined. On the manufactured side, the Hainan agarwood bracelet index stood at 568.80 points (−23.45 points, −3.96%); the Hainan incense index at 878.05 points (−2.27%); and the Hainan essential-oil index at 622.36 points (−51.02 points, −7.58%).
Seedlings and E-Commerce Under Pressure as Divergence Persists
E-commerce channels also weakened: the China agarwood bracelet e-commerce index came in at 676.02 points (−1.14% MoM, average RMB 385.85 per piece), and the essential-oil e-commerce index at 1,197.87 points (−5.41%, average RMB 41.49 per piece). The steepest drop came from upstream seedlings — the Hainan agarwood seedling index fell 81.80 points, or 11.68%, to 618.82 points. Average prices were RMB 3.50 per plant for the common Aquilaria sinensis variety (−1.41%), RMB 13.00 for Honggu Aoshen (−13.33%), RMB 13.67 for Xiangmai (−10.87%) and RMB 15.00 for Shuxinyou (−15.09%), while the Tangjie variety recorded no sales. Notably, despite the broad pullback, larger Hainan bracelet sizes moved against the trend: 1.0cm multi-loop averaged RMB 124.25 per gram (+7.58%) and 1.2cm multi-loop RMB 86.50 per gram (+9.00%). Industry analysts say the market is in a split phase of oversupply at the low end and scarcity at the top: fast-grown and treated material drags down averages, while natural sink-grade old stock and kynam remain firm. Buyers should judge value by quality grading rather than price alone.
This article is an industry observation and popular-science compilation and does not constitute any trading or investment advice. Please purchase agarwood through legal channels and insist on traceable, testable sources.
Compiled from industry information; not trading or investment advice.
常见问题
Xinhua Index是什么？
Xinhua Finance's latest monitoring shows China's agarwood price index recorded one gain and six losses in September 2026. Only the China agarwood incense e-commerce index rose 2.75% month-on-month, while Hainan seedling prices fell 11.68%, the steepest drop, as both finished goods and e-commerce channels broadly corrected.
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