Fruit Trade Finance (SIC 10320)

Trade and Stock Finance for Fruit

Trade Finance Global / Finance Products / Fruit Trade Finance (SIC 10320)

What is Fruit Trade Finance?

Although strict tariff regimes on agricultural produce restrict imports in certain categories and contexts, the market for fruit best produced in other climates must always be underpinned by imports so long as consumers demand it. Consequently, importers form a well-established global industry with long-standing expertise in buying and transporting these products from around the world according to strict “just in time” supply chain requirements from retailers and wholesalers, and often use trade finance to manage the complex trade cycles within their accounts receivable.

Fruit Trade Finance

Although the current policy climate makes for an uncertain time for many global fruit traders, and the collapse of multilateral trade talks on agriculture tariffs means significant barriers to trade in fruit continue to exist, fruit traders have almost always operated (and thrived) in a business environment constricted in this way. Consumers continue to demand fruit products which either cannot be produced in their own countries, or can be produced much more efficiently in more suitable climates; the strength of this demand has ensured robust international trade in fruit for centuries.

In fruit, transportation is king, with widespread growth in the air freight market partly fuelled by increasing demand for fresh fruit products on a just in time basis. The logistics of completing air freight administrative requirements quickly and effectively, securing appropriate warehousing space, and arranging appropriate freight forwarding (such as refrigerated road freight) are all complexities which trade financiers can help fruit traders manage to complete profitable international transactions.

Products financed

Key fruit products financed include:

  • Grapes
  • Tropical Fruits
  • Citrus Fruits
  • Pome Fruits & Stone Fruits
  • Tree & Bush Fruits & Nuts
  • Oleaginous Fruits
Fruit Producer Finance Requirements
  •  You are an established trader with dependable revenue streams
  •  Your business is credit worthy
  • Your proposed venture is underpinned by a clear business plan
How the transaction works

Trade Finance Global offers accounts receivable finance to firms by lending against the orders and invoices confirmed in their accounts, with financing packages tailored to the needs of both importers and exporters of products. This is hugely valuable for the fruit industry, as the sheer volume of transactions and transportation which must be conducted across borders in order to ensure buyers have consistent supplies of fruit can cause severe cashflow issues in otherwise healthy accounts receivable. After carefully analysing firms’ business plans, TFG can draw on hundreds on funding sources to find lending on bespoke terms which suit the constraints fruit traders operate under, and facilitate the transaction to ensure a profitable investment.

What is the SIC Code for Fruit Trade?

Businesses growing fruit are grouped under a series of six SIC codes varying by type of fruit:

1210   Growing of grapes
1220   Growing of tropical and subtropical fruits
1230   Growing of citrus fruits
1240   Growing of pome fruits and stone fruits
1250   Growing of other tree and bush fruits and nuts
1260   Growing of oleaginous fruits

Six further codes are reserved for businesses engaged in the manufacture, processing, wholesaling and retailing of fruit and fruit products:

10320   Manufacture of fruit and vegetable juice
10390   Other processing and preserving of fruit and vegetables
11030   Manufacture of cider and other fruit wines
46310   Wholesale of fruit and vegetables
46341   Wholesale of fruit and vegetable juices, mineral water and soft drinks
47210   Retail sale of fruit and vegetables in specialised stores

Separate information regarding sector-specific trade financing is also available for firms engaged in producing or trading Cereal, Crops and Oil Seeds; Spices and Aromatic Drugs; and Farming and Livestock.

Full tariff schedules for fruit and fruit products can be found on

fruit finance

Case Study

Agri-business, Fruit Finance

After a cool winter and a warm spring, a commercial fruit orchard in Lincolnshire harvested an unexpectedly large crop of cherries. Having identified a buyer in Germany for the excess goods, they approached Trade Finance Global to support the transaction. TFG were able to issue letters of credit on behalf of the buyer to the orchard to finance the transportation of the receivables, facilitating a successful, profitable international transaction.

Speak to our trade finance team


  •  Partner with private investors on terms more appropriate to international traders
  •  Financial products tailor made to suit those requirements by trade finance experts
  •  Facilitation and monitoring to reduce transaction risk


What is Stock Finance?

About the Author

Deepesh Patel is Editorial Director at Trade Finance Global (TFG). In this role, Deepesh leads efforts in developing TFG’s brand, relationships and strategic direction in key markets, including the UK, US, Singapore, Dubai and Hong Kong.

Deepesh regularly chairs and speaks at international industry events with the WTO, BCR, Excred, TXF, The Economist and Reuters, as well as industry associations including ICC, FCI, ITFA, ICISA and BAFT.

Deepesh is the host of the ‘Trade Finance Talks’ podcast and ‘Trade Finance Talks TV’. He is co-author of ‘Blockchain for Trade: A Reality Check’ with the ICC and the WTO, alongside other industry research.

In addition to his work at TFG, Deepesh is a Strategic Advisor for WOA, and works closely with ITFA. He also sits on the Fintech Working Group of the Standardised Trust.

Prior to TFG, Deepesh worked at Travelex where he was responsible for the cards business and the Travelex Money app in Europe, NAM, UK and Brazil. Deepesh is Chair of Governors and co-opted LA Governor of the Wyvern Federation, which has responsibility for 5 primary schools in South London.

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