Xinfadi is the largest fruit and veg wholesale market in Beijing in Northern China. In 2016, the vegetable trading volume of on the market decreased by 18 thousand tons compared to 2015. This was the first drop in 30 years. Although the trading volume has gone down, total turnover has grown faster than in previous years. At the same time, local convenience food stores are bringing new opportunities to the market.
Xinfadi was established nearly 30 years ago. Up to last year, the vegetable trading volume was rising, but not last year," said Yu Xi Zhang, the Chairman of Beijing’s City Agricultural Products Co.Ltd. Last year, the vegetable trading volume was 6,9 million tons, a drop of 18 thousand tons compared to 2015. This was the first drop since Xinfadi was established in 1988. Not only vegetables, also trade in vegetable oil, beef and mutton, spices and dried fruit all declined last year.
However, total turnover has increased. In 2016, acccording to Zhang, 72 billion Yuan was traded on the market, a 19% increase compare to the year before. Xinfadi is the largest wholesale market in Beijing for fresh produce.
The decrease in vegetable trade is caused by a decline in the growth of Beijing’s total population, according to Yu Xi Zhang. On the market, currently an estimated 260 vegetable varieties and 270 fruit varieties are being traded. The rise of convenience stores is not threathening the market. It has been reported that Beijing supports the construction of 1,000 new convenience stores. Part of this work will be done by Xinfadi. The market will invest in 1,000 new electric trucks that will transports its good across the city. Average prices in these local convenience stores will be higher than at the wholesale market, but lower compared to supermarkets or other retail stores.
