China: Banana price set to reach 4 yuan per kilogram
From November 2017, the banana price has been gradually rising. This is unlike last year, when the banana prices dropped 0.60 to 0.80 yuan as soon as they hit the market, and bananas were sold for 1.40 to 1.50 yuan per kilogram. Up until now, the price has increased to 3.60 or 3.80 yuan, and it is still rising. According to industry experts, the banana price will probably reach the 4 yuan per kilogram soon.
The main reason for this price increase is a drop in supply. The Guangxi banana production is reaching its end, and only has around 2% left of its supply. The Yunnan bananas are only in full supply in the region of Honghe. Bananas from the main production areas there, such as Ruili and Xishuangbanna, are also entering the market sporadically. The overall Chinese banana supply is rather small, so they are quite scarce.
Source: Yulin News - Yulin Evening News
Publication date: 1/23/2018
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