China's largest fruit market benefits from global meltdown

China's largest fruit and vegetable market here seems to have benefited from the global economic downturn, trading 20 per cent more products in 2008 as compared to the previous year.

"The volume of transaction in 2008 increased by 20 per cent compared with the year 2007," an official of the Jiangnan Fruit and Vegetable Wholesale Market in Guangdong province where the daily trading volume crosses 10 million kilogrammes told a group of visiting journalists here.

"The fruits which did not sell in the local markets of south east Asian countries were sold here, while Chinese fruits which could not be exported in the overseas markets were also sold well in this market," he claimed.

Guangdong is China's most prosperous province which has witnessed a growth rate of over 13 per cent in the last two decades, four per cent more than the entire country.

However, the economic downturn, did see a negative impact on the trade of vegetables, which are distributed vegetables all over China, besides Guangzhou and its neighbouring Pearl River Delta, the official said.

Thailand, Philippines, Malaysia, the US, Chile and Canada are among the major trading partners in this market, which engages roughly 30,000 to 50,000 workers daily and has over 1,000 stores. The market distributes and collects vegetables and fruits all over China "except Tibet," the official said, without giving any specific reason for the exclusion of the region.