Year on year banana prices nearly double

The banana output from Guangxi Zhuang Autonomous Region and Guangdong province, both in Southern China, is quite limited. In Hainan and Yunnan provinces, the harvest season is almost coming to an end. As the year on year banana output has fallen by 50% it can hardly meet the demand of consumers and, consequently, prices have increased significantly.

On average, the banana price has gone up to 4.5 Yuan per kilo. In certain banana markets, the high end bananas are selling at up to 6.2 Yuan per kilo. In comparison, the average banana price was previously only 1.5 Yuan per kilo, which means banana prices have increased over 192%.

Guangxi Zhuang Autonomous Region, the largest banana production area in China, has postponed the market listing season until the middle of October due to low winter temperatures. This means that banana output can hardly increase before that time. On the other hand, when the autumn season does arrive, the market demand and trade of bananas will continue to go up. It will soon be the mid-autumn festival in China, and this will, to a certain extent, promote a rise in banana sales at the local level.

Source: www.sci99.com