The first chili pepper exchange in Hubei province, which has introduced 24 varieties of chili peppers from domestic and international sources, is establishing itself as a comprehensive trading center for directly sourcing chili peppers in China's central and western regions.
Located within the Hankoubei International Trade Center in Wuhan, the exchange officially commenced operations during the 2023 Wuhan (Hankoubei) commodities fair, held from Oct 30 to Nov 6.
One map at the exchange reveals that over 40 percent of the Chinese population is avid spicy food consumers. The regions of Hunan, Hubei, Jiangxi, Sichuan, Chongqing, and Guizhou are highlighted in vibrant red, signifying them as the areas with the highest spicy food consumption in China.
According to Xu Kun, general manager of the trading division of Wuhan International Trade Group, the operator of the exchange, it is equipped with professional quality inspectors capable of providing third-party evaluations of the quality of the goods.
He said that traders seeking to participate in the market must submit applications, present quality inspection certificates and undergo sample reviews. Once approved, they can proceed to quote prices for trading.
This process allows purchasing parties to compare products from multiple sources before placing orders, with the platform facilitating delivery and settlement upon confirmation, said Xu.
During last year's fair, the exchange successfully sourced India's most used dried chili pepper worldwide.
"Characterized by original importation and transparent pricing, it inspired numerous wholesale merchants from central and western Chinese provinces to procure peppers on-site," said Xu.
Cao Tianbin, president of Hankoubei Group, stated that the exchange's next phase involves leveraging the advantages of the largest commercial and logistics platform in central and western China and over 30 large-scale specialized market resources.
He said the exchange would expand the direct supply channels for chili peppers from upstream regions such as Havana and Mexico while also developing the midstream and downstream industries, including primary chili pepper processing, deep processing, food processing and culinary creativity.
Source: chinadaily.com.cn
