Last week, the overall banana prices in production areas experienced significant shifts, mainly due to the influence of the Mid-Autumn Festival and the National Day. On the one hand, the National Day is expected to stimulate purchase, but some markets have temporarily stopped making orders while celebrating the Mid-Autumn Festival.
The market showed a slight improvement before the holiday, then a decline followed by stability afterwards. Currently, only Guangxi is shipping in large volumes, while a small number of shipments are made from Guangdong, Yunnan, and Laos. Pricing is relatively stable. Due to limited supply, green bananas in production areas are commanding a good position in pricing negotiations.
Due to the prevalent high prices seen in production areas, it is rather difficult to increase prices in the wholesale markets, and traders face high pressure in selling the goods. Despite the stimulation of the holidays, the enthusiasm of traders in making orders is greatly affected, so the extent of rises and falls in prices before and after the holiday is not large. The same situation may occur during the coming National Day where small rises and falls in prices are likely to occur.
Source: nfncb.cn