This year, Zhangzhou's banana bumper crop is abundant. Due to the impact of the economical environment, purchasing power is lacking, leading to an oversupply and a price decline.
Zhangzhou Municipality Price Monitoring Centre monitoring data show that mid-December, the banana price in Zhangzhou was 1.66 Yuan per 500 gram (average market and supermarket price), a decline of 0.22 Yuan (11.7 %) compared with last month. Compared with the price in March (3.23 Yuan), a price fall of 48.61%.
The main reason for the price decline is the output surplus. This year's good weather conditions led to an abundant yield. That prices are low in these circumstances is normal. A second reason is the decline of consumption. Due to economical influences, consumption is low. The demand for large amounts of fruit is weakened, causing an oversupply.
Source: China Investment Consult Online