Agricultural market project tipped to trade US$1.25 billion in produce a year

A large agricultural produce trade center will be built in suburban Songjiang District with an annual trade volume estimated at about 8 billion yuan (US$1.25 billion).

The Nanjiao International Agricultural Product Resource Allocation Center will be the nation's first global resource center for agricultural products.

Located at Yexie Town, the wholesale market invested by Shanghai Vegetable (Group) Co Ltd will be a supply base for foodstuff covering the whole Yangtze River Delta region.

It will also be a one-stop smart fresh food market integrating trade, warehouse, consumption, catering, exhibition and convention, and central kitchen functions.

Covering about 300 mu (20.1 hectares) of land, the project's whole construction is scheduled to take about five years.

Building of the first phase covering 180 mu of land, costing 2.575 billion yuan is expected to start next year.

A flower trade area, warehouse and cold-storage supporting facilities, plus consumption experience area, will be also established at the center. They will be complemented by an agricultural product research and development center and an agricultural product online new economy innovation and startup incubator.

The annual trade volume expected to be generated from the center is estimated to be about 1 million tons.

As an important agricultural town in Songjiang, Yexie has the biggest harvest in the district, ensuring an abundant supply of fruits and vegetables.

Its Punan Agricultural Product Wholesale Market is one of the four vegetable bases in Shanghai.