"Agricultural China" is reporting that the banana season in Guangxi has begun. Farmers say this year promises a good harvest and new bananas are big and plump. However, a good harvest might also mean an oversupply. Banana prices started to decrease recently, because there are too many of them on the market.
September is peak time of the banana season in Guangxi, so the market is overwhelmed with bananas. For the last few days the prices have been dropping substantially. In just five days the price decreased by 6 mao per kilogram. This year, the weather in Guangxi was very rainy, at the same time air temperature was 28 degrees and higher. Because of such conditions some bananas started to rot. The amount of produce is huge, but quality is not good. For these reasons, Guangxi banana prices are declining even further.
Source: CNR