Since last Friday, some merchants have entered the “Spring Festival stocking mode”, and the demand for quality goods has increased. The agency expects that this year's Spring Festival stocking peak will officially arrive in 5-7 days. At present, the temperature level of domestic banana producing areas including Yunnan, Guangdong and Guangxi is relatively low, and the ripening speed of bananas is slow. Therefore, the willingness of banana farmers to sell is reduced and buyers are hanging back, hoping to push the price up further.
The Spring Festival is when banana consumption is traditionally at its highest but this year has been disappointing. According to the National Agricultural Products Wholesale Market Information Network, the average price of bananas in the national wholesale market is 5.36 yuan/kg, which shows a slight decline in December.The influence of New Year's Day is not so obvious.
The insiders pointed out that due to the competition of seasonal fruits such as sugar orange and tangerine, the consumption level of the banana market is limited and the festival may not be able to generate sufficient pull on the price of bananas.
Source: Agricultural Finance Network Banana