The Chinese market price of bananas recently showed fluctuations. The overall price was stable at first, but then began to fall.
When supplies from production areas was scarce and visiting traders were supplementing their stock, the banana price was stable. Then, although the supply volume from production areas did not grow, the number of production areas increased. The import volume was also large and the prices were good, so sales went well. Imported bananas created fierce competition for domestic bananas. Supply was slow during the Mid-Autumn festival [13 September, 2019] and the profits for brokers was small. Traders prepared less stock and waited to see if the market would change. The temperature in many production areas was quite high and the bananas ripened quickly. All these factors contributed to a price decline.
The effect of the Mid-Autumn festival will gradually diminish and fluctuations will grow less severe, but the overall price may still show a steady, slight decline. People in the industry state that the National Day celebrations [1 October, 2019] may push the banana price up. After National Day, if the weather turns colder, the price may continue to rise.
Source: ncw365.com