Qingming Festival and workers returning may boost banana consumption in China

During the week of March 9-14, the banana market in production areas fluctuated greatly. In general, prices declined during the first half of the period and gradually stabilized during the second half. Due to recent price increases, prices in various production areas are at a high level. At the beginning of the period, the wholesale market gradually calmed, and the ordering demand slowed down, which reduced the number of transactions in the origins and lowed prices by varying degrees. After several days of adjustment, the price level in the production area became more moderate. With the approaching Qingming Festival, stocks in the market are to gradually increase, and the price in the production areas has begun to stabilize.

Over the recent days, Hainan has begun to make shipments. The price of bananas not affected by the cold is high, reaching the highest point that Hainan has seen over the recent years. The supply from various production areas in Southwest China has been gradually decreasing, and Hainan will gradually take over. Although the production areas haven’t yet seen a more lively market,  the approaching of the Qingming Festival, workers gradually returning to work, and the recovering market demand, more or less will stimulate the consumer market, which is expected to show some signs of recovery next week .

Source: NCWXJT

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