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The big potential of the banana market in China
The China Economic Information Service, a branch of the Xinhua News Agency, and the municipality of Chengmai County of Hainan Province issued a Report on the Development of the Banana Industry (referred to as the Report in the following context) on 8th, June.
According to the Report, the average consumption level of bananas in China is only 62.3% of the global average, which means this market still has a big potential. The Report analyzed the Chinese banana industry from many perspectives including the planting, trade, technology and competitiveness. It also provided a scientific estimate of industry trends in 2017 based on the relationship between supply and demand and gave suggestions on how to adjust to new trends.
It is pointed out in the Report that the scale and organizational trends of the banana industry in Hainan Province have changed fundamentally in the last 10 years, mainly because of the improvement in land transfer policies, the faster pace of industry advantages, moving from one region to another, and the development of a mechanism that allows the survival of the fittest only.
On one hand, Hainan has achieved a bigger economic scale of the industry through land transfer. On the other hand, Hainan has better organized the industry structure with the help of various types of organizations including industry alliances, cooperatives, professional institutions and companies.
As an important production area for bananas in Hainan, Chengmai County had a total production area of 108,100 acres in 2016 with a total yield of 286,900 tons. The production of the Baby Banana variety has been expanding continuously and become an important brand of Chengmai.
Publication date: 6/14/2017
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