China: Farm prices stabilize for bananas

Recently, the overall banana farm price has shown an upward trend, rising at first then stabilizing at a higher level, especially in Guangxi, where periods of high prices are still seen. Currently, total shipments from Guangdong and Hainan are decreasing and not much good-quality supply is left in production areas. As the southwestern production areas have entered the off-season, their total production is also limited. In addition, due to the celebration of the Zhongyuan Festival this week, some production areas slowed down their shipments, and prices of good-quality fruit from large centers in Guangxi rose sharply, which led to a partial rise in supplies from Guangdong, Hainan, and Yunnan.

The market situation in production areas has improved. On the one hand, after the landing of Typhoon Lekima, the temperature in consumption markets has cooled down, which has improved sales and increased the demand for orders in the markets. On the other hand, there’s a shortage of good-quality goods in production areas. Currently, due to high banana prices in various producing areas, the costs for making orders are rising and sales pressure is high. Meanwhile, emergency fruits, such as watermelons, are still in the market. Therefore, the speed of purchasing orders will slow down, and the farm prices will remain stable for a period of time. Industry experts expect farm prices to remain stable next week, with small rises and falls.

Source: Nongcai Net Banana Expert


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