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China: Cold, rain, and snow affects consumption, banana price drops

The price of bananas in various production areas recently decreased in varying degrees. This development is most obvious in Yunnan, Laos, and Guangxi. The price was stable at first in Guangdong and Guangxi, but dropped in Yunnan, laos, and Myanmar. Later, as temperatures in north China dropped and some areas suffered from excessive rainfall and snow, then the overall banana market slowed down. Consumption weakened and visiting traders are less willing to place orders. The overall price of bananas in production areas, including Guangdong and Guangxi, then dropped. The banana price in Yunnan and neighboring areas decreased by 1.5 yuan [0.22 USD] per kg in one week. Many production areas temporarily stopped supply to see if the market will change.

The Central Meteorological Office announced that the next 10 days will continue to see low temperatures and rainfall in south and southwest China. This weather will continue to influence the banana market.

Source: ncw365.com


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