A group of traders and sector professionals based out of Shanghai's Huizhan wholesale market have formed the country's first fruit importer association, with the aim of regulating accounts to avoid bad loans and losses for vendors.

Shanghai Professional Fruit Importer Association secretary Gong Chunmei told www.freshfruitportal.com debts were getting more serious in the produce trade, causing distress to tenants and "a lot of insecurity".

"So we spontaneously formed this association to develop a series of statutes and administrative measures intended so that buyers can be regulated and supervised," the spokesperson said.

Under these new regulations, in instances of non-payment or arrears the association's committee will convene all members and inform buyers about the situation, advising them not to deal with the traders concerned.

International Trade Center statistics show China imported more than US$6 billion worth of fruit last year with Thailand, Chile and Vietnam as the leading suppliers.

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