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With larger supply at production areas

Limited room for banana prices in China to rise further

Recently, the market in various banana production areas has been fluctuating. Prices of good- and medium- grade products have seen very different developments. Those of some good-grade products have risen while those of medium-grade products have begun to decline. However, the trading volume in production areas on the whole has started to reduce gradually this week, and the number of orders from traders has dropped  in some areas, while prices are showing a slight downward trend.

Propped up by earlier increases, current prices of good-grade products are high in all production areas, and extreme cases are seen in certain areas. For example, thanks to premium products resistant to the cold weather, bananas are seen to have been sold at high prices of 6-7 yuan/kg in Laos and Myanmar, but this is not typical. In the coming weeks, with the the gradual opening of cargo transportation channels from Houqiao Port to northern Myanmar, the supply of good-grade products in production areas is expected to increase greatly, which will balance out the shipments among production areas, resulting in limited room for prices to rise further. Prices of certain medium-grade products may even drop further.

Source: NCWXJT

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