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Snow and rainfall in north led prices to fall

Banana prices stablizing before Chinese New Year

Recently, production areas in China have seen fluctuating prices. Affected by the rainy and snowy weather in the north, freight rates have risen, and the consumer market is weak. Earlier, prices were unreasonably high, and merchants were on the sidelines waiting for clearer development, leading to average sales speed.

The low prices of seasonal fruits such as shatang mandarins have had a great impact on bananas, so the overall market price declined. Later on, the weather in the north improved, and market consumption increased. Merchants again began to stockpile, and the selling speed gradually accelerated. Some production areas had fewer good-quality volumes, which led the pricing gap between good and poor quality supply to widen. Prices of good quality supply stayed firm, and the overall market became stable.

In general, the overall market in production areas has been weak. The rainy and snowy weather in the north had a great impact on production areas, freight rates increased, and consumption power weakened, which had adversely affected the market conditions. The poor market for shatang mandarins this year has also had some impact on bananas.

Fortunately, there are still some merchants stocking goods before the Spring Festival, coupled with the limited availability in production areas, the market is stabilizing. Industry insiders said that the market may become basically stable before the Spring Festival, with no significant ups and downs.

Source: NCWXJT

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