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China: Disappointing banana sales
The peak period for banana sales in Guangxi province is over and prices have returned from their their seasonal high of 0.6 RMB to 2 RMB per kilogram.
During the busy season, bananas from the first yield from the districts Xixiangtang and Qinzhou in Nanning city did not sell well.
Guangxi is the largest production area for bananas in China. Starting in around 2015, the price of bananas began to drop sharply and the situation is yet to notably improve.
Many banana farmers and plantation owners have left the industry and some experts believe that the only way forward is a complete reorganisation of the chronically disordered plantations.
There are three underlying causes behind the fall in sales: Firstly, mean temperatures have risen rapidly, which has caused early ripening and an oversupply as volumes hit the market in larger concentrations. Secondly, the relationship between supply and demand is skewed with the supply largely exceeding demand. Lastly, the costs of labour and packaging have risen and profit margins have shrunk, which has deterred buyers.
Publication date: 11/22/2017
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