Recently, China has been undertaking strict prevention and control measures for the novel coronavirus, which has been hindering the shipment of agricultural products, especially fruit, but banana workers in some production areas have resumed work. On February 3, the total shipment was significantly lower and the price had risen, as only a few plantations in Laos and Myanmar resumed shipping. However, banana prices in Guangxi and Yunnan in China are still dropping at varying degrees, while prices in production areas with relatively small volumes are more stable.
Among them, prices in some of production areas in Myanmar are on the rise. Jingyang mostly ships to Shandong, Henan, and Northeast China. Mainly due to the closure of Houqiao, Laying and other ports, the total shipment has reduced, leading to higher prices. Previously, around the Spring Festival, affected by the coronavirus, farmers marketed their products at reduced prices. Later on, during the Spring Festival return-to-work rush, some enterprises started to purchase and more inquiries were made, leading prices to rise to a certain extent. At present, the price of good quality products is at around 3 yuan/kg.
Source: NCWXJT