Recently, prices of bananas from all regions of China and abroad have fluctuated and declined in various banana growing regions. China has entered midsummer, and the temperature in the production areas and the consumer markets across China are high. The hot weather has reduced consumption. The decline in sales is the main reason for the decline in banana prices this week. Another reason is that in the first half of the year, the volume of imported bananas surged, taking up a large market share. According to the Customs, the import volume of Philippine bananas in the January to April period this year has doubled.
Fortunately, the total volume of shipments in various production areas is currently small, and there are no large volumes of supplies overlapping each other. Therefore, the price level of supplies from each region remains moderate, and the price of high-quality supplies from various production areas stays at 6-8 yuan/kg, highly competitive. If the temperature falls, and the rain cools down the weather, the market consumption will be boosted, and the shipments from domestic production areas will greatly increase, driving the market price to pick up.
Source: Agricultural Finance Network Banana Expert