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International Labor Day stimulates Chinese banana price

The Chinese banana price was quite good last week (April 12-17). International Labor Day is almost upon us and this holiday always encourages traders to stock up in preparation for increased consumption during the festive period. Visiting traders are eagerly loading bananas to stock up their warehouses and they are fighting with each other to secure the best supply. Even the trade in second-grade bananas is speeding up. However, the supply volume from domestic production areas is limited. The majority of the banana supply comes from production areas in Hainan and Yunnan, but secondary supply from production areas in Guangxi and Guangdong is also growing stronger. Market prospects look good.

The market price of bananas from Myanmar is not stable. Products are piled up at the border and this situation is not easily solved. The border situation with Laos is improving. The supply volume from Laos is still not that large, but it is growing.

Although supply is limited and the price is rising, some farmers are not taking advantage of the current market. Instead, they are stockpiling bananas to see if the price will rise even further. Many visiting traders have already given up because they can not afford to purchase bananas at these prices. The retail market is also slowing down. In other words, while the price is rising, overall market conditions are not at all clear.

Source: ncw365.com


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