The good-luck fruit (en)
Did you know that the orange is one of the most common food symbols of the Chinese New Year? Oranges are a popular symbol of good luck and are displayed as decoration or exchanged as gifts among friends and acquaintances during the 16-day festival.
In 2016, China and Hong Kong, SAR, were the fifth and the sixth largest importers of oranges. Together they imported 498,535 tonnes of oranges in 2016, valued at an estimated $514 million. This represented close to 10% of the total world import of oranges. The US, Australia and South Africa are the three biggest exporters to the Chinese markets.
Despite the huge flow of oranges going to China each year, is there still an appetite for more? Apparently there is.
According to ITC’s Export Potential Map, the total untapped potential remaining in China and Hong Kong is around $330.1 million. This suggests that other orange-producing countries such as Egypt, Turkey and Morocco could further grow their exports by targeting the Chinese markets, with a combined untapped potential of almost $14 million.
Gong Xi Fa Cai! Happy Chinese New Year!
To explore more export potential visit ExportPotential.intracen.org