Yulin To Accelerate Effort Establishing Top-Notch Spice Trade And Distribution Hub

KUALA LUMPUR, Oct 30 (Bernama) -- About a thousand guests and merchants from the spice and condiment industries around China recently convened in the city of Yulin, Guangxi for the 2023 China-ASEAN Expo Spices Exhibition.

In a statement, the Publicity Department of Yulin Municipal Government said they were joined by more than 200 investors and buyers from nations such as Indonesia, Vietnam and India.

Adopting a digitised method to create the "bellwether" and "barometer" of high-quality development of the Chinese spice industry has emerged as an innovative pathway in Yulin's pursuit of "optimisation and excellence".

At the exhibition, the Xinhua-Yulin Spice Price Indices Operation Report, jointly composed by Xinhua China Economic Information Service and Yulin Municipal People's Government, was officially launched.

Guangxi region is one of China's major spice producers, while its city of Yulin has been dubbed "Capital of Medicines in the South" and "Capital of Spices in the South", serving as one of the major growers and distributors of spices in Southeast Asia.

There are more than 200 types of commonly found spices in the world, over 160 of which are traded in Yulin, whereby the varieties of spice products at the Yulin International Spice Exchange, China's biggest tier-one spice exchange, are simply astonishing.

Every day, spices worldwide are assembled here, then transported by way of logistics to various provinces, regions and municipalities throughout China, and numerous markets around Southeast Asia and Africa.

The coming into effect of the Regional Comprehensive Economic Partnership (RCEP) has made it easier for food products from the same source to clear customs, while taxes on a wide range of spice products have been lowered, further promoting the imports and exports of spices.

Following the commencement of Phase I and Phase III of the project, the Yulin International Spice Exchange is set to be renamed "Yulin International Spice Logistics Port", and Yulin will speed up its step in creating a world-class spice trade and distribution centre.

-- BERNAMA