China: Price of bananas in production areas continues to rise
The price of bananas in production areas has recently been on the rise. After a brief cold period, the prices are now warming up again. In many areas the price of good-quality bananas is 4 yuan [0.63 USD] per kg and higher. Looking at price data from agricultural markets nationwide it becomes clear that the average wholesale price in fruit markets is rising as a result of warmer weather and unobstructed transport. The consumer market for fruit is gradually reverting to the level prior to the snowfall and closed roads. The banana market will respond to this price increase by speeding up product transport.
In recent years the banana market has been depressed. Many farmers scattered throughout Guangxi and Yunnan have already abandoned their plantations or shifted to growing other products. Several large-scale companies and plantations remain and they have started to decentralize their businesses. Furthermore, with the spread of a withering disease and the depressed market conditions, several Chinese companies have started to diversify their strategy for bananas and other cash crops.
Publication date: 1/30/2018
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