The price of bananas in production areas first increased and then declined last week. The fluctuation was not great. The market and the production areas are quite well integrated. Supply was relatively limited at first. Many production areas in Yunnan, for example, were approaching the end of their production season, while supply from Hainan still came in small volumes. In addition, banana supply from Myanmar and Laos encountered problems at the border.
Then banana supply from production areas in the southwest declined because of Thai New Year [April 13th-15th, 2019]. Visiting traders already prepared for this and the volume of orders also dwindled. The price of bananas in Yunnan, Myanmar, and Laos dropped by various degrees. Meanwhile, the banana supply from Hainan is growing, but market trade did not significantly increase, so the price of Hainan bananas dropped as well.
The production of bananas slowed down in the southwest because of Thai New Year. Production areas have been unable to supply sufficient volumes of bananas and there is a strong demand for top-quality bananas. People in the industry explained that the supply speed will slow down during Thai New Year, but overall market conditions will remain stable.