The banana price in production areas in Yunnan, Laos, Myanmar, and Hainan dropped last week but then stabilized. The temperature in production areas is relatively high, which speeds up the growth of bananas. This puts pressure on banana farmers to sell their stock.
Retailers are already well-stocked for increased fruit consumption during the First of May celebrations and visiting traders in production areas show little enthusiasm to buy. At the same time, bananas have to compete with other seasonal fruits such as pineapples, watermelons, and apples. This does not just affect the price in production areas. The wholesale price of bananas is also falling.
The production season is almost over in major banana production areas in Hekou, Bingbian, Yuanyang, and Malipo, Yunnan. The peak period of banana production in Myitkyina, Myanmar, is already over. The overall supply volume of Hainan is limited. People in the industry pointed out that the market stocked up on bananas. The enthusiasm of visiting traders will only increase once the current stock is consumed.
Source: ncw365.com