Traditionally, the peak sales season for imported bananas in the Chinese market spans from February to March. However, due to the increase of imported bananas this year and the delayed arrival of Chinese bananas caused by weather conditions, the peak season for imported bananas is expected to extend into April.
"This period witnesses a concentration of banana imports, particularly from Southeast Asia. Production in the Philippines has declined while other producing regions have seen an uptick in production or imports." Mr. Lin Mingxian of Shanghai ZhangXin International Trade Co., Ltd., a company specializing in imported bananas from Vietnam, the Philippines, Cambodia, Ecuador, and other regions, noted.
Lin highlighted, "This year, the low production of Philippine bananas has driven prices higher, creating a notable price gap with Vietnamese bananas. While Philippine bananas were historically prized for their taste, this season's quality hasn't met expectations, whereas the quality of Vietnamese and Cambodian bananas has improved."
"Vietnamese bananas have better overall properties and more affordable prices; Cambodian bananas have better peel appearance and prices are between those from the Philippines and Vietnam. The appeal of the two to the market is increasing. In the past two or three years, the Chinese market's enthusiasm for Philippine bananas has waned, and consumption has gradually turned to bananas from Vietnam and Cambodia."
"Vietnamese bananas offer better overall qualities at more affordable prices, while Cambodian bananas boast better peel appearance and fall between Philippine and Vietnamese bananas in terms of pricing. The market preference is shifting towards Vietnamese and Cambodian bananas. Over the past few years, enthusiasm for Philippine bananas in the Chinese market has waned, with consumers increasingly turning to alternatives."
In terms of pricing and sales, Lin explained that current prices of imported bananas are approximately 25% lower than in the same period last year, resulting in sluggish sales. He attributed this to the influx of banana arrivals and the prevailing consumption environment. Lin added, "In addition to the aforementioned sources, imports from Myanmar and Laos have notably increased this year, with arrivals peaking during this period. Moreover, the introduction of bananas from Hainan, China, has exerted some influence on the prices of imported bananas. Traditionally, banana prices tend to rise in anticipation of the Qingming Festival (April 4). However, there hasn't been a noticeable change in prices yet."
Discussing market trends, Lin predicted that prices would gradually rise over the next two to three weeks as the volume of imported bananas decreases. He anticipated a more pronounced price increase trend by mid-April.
Shanghai ZhangXin International Trade Co., Ltd., operating under the brand "Zhangxin International", focuses primarily on importing bananas and durians. The company utilizes wholesale markets as its primary distribution channel, with its sales area predominantly covering East China.