Supply from banana production areas has recently been stable and smooth. The influence of Spring Festival [February 5th, 2019] is growing less significant every day. The overall consumer demand for bananas grows in March. In addition, with Spring Festival far behind us, the cost of transport is gradually coming down to regular levels. These two factors combined encourage the growth of banana trade in March. The price of bananas continued to rise in southwestern production areas, though not as rapid as last week.
The overall market conditions are quite good. The main reason for this situation is smooth delivery of market supply, even though the overall supply is still limited. The banana market supply will reach its peak when supply from Myanmar arrives on the market in large volumes. People in the industry predict that this will happen in middle to late March. It is difficult to predict what will happen when supply suddenly grows. Banana farmers therefore try to sell their stock before the peak period begins. Some visiting buyers, however, have become more hesitant as the banana price rises.
Source: ncw365.com