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Banana prices falling back after significantly rises in China

Due to large volumes of cold-damaged bananas flooding into the market, overall prices in production areas have recently fallen. In general, the quality of bananas declines when a cold snap occurs, driving prices down, which is a common phenomenon. Fortunately, the cold snap last week inadvertently stimulated trading in the marketing, driving prices in the production areas up for some time. With large volumes of cold-damaged bananas flooding into the market this week, the market has gradually quieted down. Merchants' enthusiasm for purchasing has begun to cool, and prices have begun to fall. Industry insiders said that some business owners have started to adopt a wait-and-see attitude. They have already purchased large volumes, so they are not in a rush to purchase more. As the price rose significantly earlier, it’s natural to fall back a bit.

Due to different degrees of damages, price differences are gradually widening, determined by quality. For example, the highest quality bananas from Myanmar not being damaged by the cold snap remain at 4 yuan/kg, while cold-damaged ones from Guangxi and Yunnan are sold at 2.0-2.6 yuan/kg. The emergence of the price gap may drive production areas to make great efforts in quality assurance and improvement.

Source: nxwxjt

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