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China: Banana prices dip in Jinan, Shandong

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

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