The banana price showed an upward trend this week. The main reasons for this development are the reduced supply volume from production areas and the increased demand. The main market supply of bananas currently comes from Guangxi, with Laos and Yunnan in second and third place.
The product quality of bananas from Guangxi is better than that of other bananas on the market, and the flavor is also better. The price is therefore rather high at 6.6 yuan [0.95 USD] per kg; bananas from Laos come second at 6 yuan [0.86 USD] per kg; and bananas from Yunnan, who can not compete with bananas from Guangxi or Laos in product quality or flavor, come third at 5.2 yuan [0.75 USD] per kg.
The banana market currently relies mainly on production areas in Guangxi for banana supply. Bananas from Laos and Yunnan have only just entered the market. Their supply volume is still small and unable to satisfy consumer demand. The current demand exceeds supply, which is one of the reasons why the banana price increased this week.
The price is expected to come down in one month when bananas from Laos and Yunnan enter the market in large volumes.
Source: Wanbang International Market