Banana prices are handling a short-term oversupply well, with cartons per week nudging between 400 and 500 thousand. Those within the industry expect any drop to be temporary only, and are happy with the quality. “The market has been really good up until this point this year. It’s coming back now as there had been a bit of an oversupply,” says Repstar Agriculture owner Mark Reppel.
Fruit quality and consistency have been good, leading to steady retail activity combined with well-timed back to school promotions. “Quality has been fair with the only exception farms that were affected by Storm activity throughout last summer,” says Chaise Pensini, National General Manager for bananas with Oakville. He also notes that growers have adapted well to the unpredictable weather patterns, including L&R Collins, a grower who recently purchased & developed another property in Lakeland 400 kilometers north of their home farm in Tully. “We will see more and more geographical diversity to protect the Australian banana,” he adds.
The weather will ultimately determine how well volumes are sustained at current levels throughout winter, however Mr Pensini is confident. “We expect consistent volumes throughout winter however Mother Nature will have the final say dependent on the Cold nights,” he says.
The industry is also coping with the discovery of the Panama TR4 virus, and positive diagnosis is still confined to two small sections of two properties. The compensation growers are to receive is still being finalized, however the Federal Government promised to contribute one third of the final costs on Tuesday, which surprised Mr Reppel and indicates that a final amount might be forthcoming soon
Strict biosecurity protocols and awareness around the TR4 issue have helped, according to Mr Pensini. “Both properties are back into production in line with the Biosecurity Queensland protocols. The plant disease can be contained through the vigilance and practices of growers.”
For more information
Chaise Pensini
Oakville
Phone: +612 9746 9800
E-mail: cpensini@oakville.com.au
Website: www.oakville.com.au