China: Banana market continues to be difficult
The large fall in the price for domestic bananas meant the purchase price on October 5th fell to only 1RMB (0.13 EUR) for a kilogram. All the banana farmers in Qishan (Taiwan) are very worried, because revenue cannot cover the costs. Almost all banana farmers have given up on their harvest, and have allowed the bananas to ripen early and fall to the ground. Some banana farmers cherish these objects and voluntarily reap the fruits to give them as a present to friends or families or sell them at low prices.
Since June the supply of bananas has been larger than demand, so the price has been continuously falling. Banana farmers from the Yuantan region in Qishan have simply left their crop on the trees and allowed them to rot because of the steep fall in the price. However, some banana farmers sell one box of 20 kilogram cheaply for 120 RMB (15 EUR) and deliver them themselves. A lot of orders were placed for deliveries to friends and families during the Mid-Autumn-Festival. Although the low price for the sold bananas is not profitable, making any kind of profit is always better than nothing at all.
Publication date: 10/10/2017
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