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China: Banana prices forecast to continue rising
In the past few days the rise in the price for bananas has been obvious. Currently the retail price for bananas stands at 0.63-0.68 EUR (4.6-5 RMB) per kilogram. Over the last ten days a kilogram of bananas has risen 0.19 EUR (1.4 RMB) in price. The main reason is that the remaining bananas from Yunnan province are now scarce, while bananas from Hainan province have not yet arrived on the market. As a result the amount of stock circulating in the market has been reduced, which in turn led to a continuous rise in the price of bananas.
At the present time the bananas from Yunnan have already entered their final stage and only 10-30% remains. This amount will keep dropping during the final stage and problems will pile up for both customers and merchants in Yunnan. The bananas from Hainan will only enter the market in May or June.
Due to the scarcity of resources, it is likely that high prices for bananas will dominate the market in the medium and long term. The price for produced bananas might reach 0.55-0.68 EUR (4-5 RMB) per kilogram, so customers will have difficulties finding cheap bananas.
