China: Too many bananas from Nanning affecting sales
Bananas are one of the characteristic fruits of Nanning. Recently Nanning has had a peak period for the harvest of bananas. Because all the bananas were ripe and harvested at the same time, and because labor costs have risen, bananas from Nanning have been selling poorly and have been running at low prices.
The relatively warm weather during last winter and this year's spring were beneficial for the growth of bananas. The peak period for harvested bananas in Nanning happened more or less 30 days ago, and they have currently entered a peak period on the market. Moreover, at the moment temperatures are high, so the bananas grow plump and ripen more quickly. Add to this the excess rainfall in July and August, which severely damaged the banana leafs that protect the fruit, and farmers could no longer wait to harvest. Presently, approximately 40% of the bananas urgently need to be harvested, totalling up to about 600,000 tons.
This drop in price also caused the banana sellers that were so numerous in previous years, to take a cautious attitude. In previous years the Chinese National Holiday and Mid-Autumn Festival were peak moments for sales, but this year retailers did not fight over the bananas. Right now is the season in which fruits hit the market in great amounts, so sellers don't dare to hoard a lot of goods, especially bananas.
Publication date: 10/23/2017
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