Data from the Price Monitor Center of the Jinan Shizhong District Price Bureau shows that the banana price is falling. The current banana price is 3 yuan [0.48 USD] per 0.5 kg, which is a price decrease of 9.09% in comparison with the previous week, and a price decrease of 14.29% in comparison with the same period last month.
Analysts say that there are two main reasons for this price decrease: first, the production volume of bananas increases in spring when bananas ripen quicker. As the supply volume grows it exceeds demand and the price of bananas shows a seasonal decrease. Secondly, the weather has been excellent in the past few days, which means that bananas can not be stored for a long time, and have to be sold quickly. This too leads to a price decrease. It is estimated that temperatures will continue to rise, which means that bananas will ripen quickly, and the price will continue to fall.
Source: Jinan Shizhong District Price Bureau