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China: The price of bananas is going up
Due to the large volumes entering the market, the price of bananas has been low this year, causing many banana farmers to sell at a loss. However, from mid to late November, their price has risen sharply, from the initial 1.02 yuan per kilo to the current 3.04 yuan per kilo, which is a rise of 200%.
The main reason for this rise is the lack of supply. After the prices of bananas have risen, banana producers have made money, but the situation in the wholesale markets, retail stores and small street shops is different. In the wholesale markets, the price of bananas is rising very slowly. Everything turned upside down and the purchase price in the production areas is now higher than the wholesale price.
It is expected that there won't be any improvement in the tight supply of bananas at least in the next 20 days. By the end of this month, the banana supply should increase because of the new bananas from Ruili and Xishuangbanna. Generally speaking, the supply of bananas this year is not as good as it was last year. Changes won't be significant. The New Year and Spring Festivals will also influence the price of bananas, which will most likely stay high for a long time.
Source: Agricultural Science and Technology Newspaper
Publication date: 1/4/2018
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