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China: Will the upcoming holidays affect banana prices?
Because of the warm winter this year, Guangxi bananas arrived on the market ahead of time. At this moment, they are in the process of transportation. After first batch appeared on the market at the beginning of September, Guangxi bananas price took a lead in the race. When the price of bananas here changes, it affects bananas prices all over China. When the market was good, Guangxi bananas reached 3 yuan per kilo. However, there are two big holidays on the way (National Day and Mid-Autumn Festival) and it is hard to predict how the market situation will change.
According to the Chinese agricultural market prices data analysis, banana prices have been stable since July. At the same time, the prices of seasonal fruits such as melons, peaches and grapes, declined. Bananas lost their market share. In addition, hot weather continues, causing a "dead season" in bananas sales.
Last year's price fall was caused by transportation "double police". This year is different. There are more factors affecting the market now. At first, procurement costs for merchants increased significantly. Secondly, some of the prices strongly affected the overall market.
Because of last year's bear market and wilting plants, banana production territories in Guangxi were reduced to 80.000 ha. This year's big crop will compensate for the difference. There are still more than 10 days to National Day and the Mid-Autumn Festival. In the last few years, market prices in general have gone up a lot, but the banana industry has been muted. At present, wholesalers remain cautious about possible price changes.
Publication date: 9/25/2017
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