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Chinese banana market warming up

Last week (June 28-July 4), the market in all banana production areas but Guangxi remained stable, with little fluctuations in prices. In Guangxi, as the new crop just came on the market, prices experienced slight fluctuations, declining followed by rising. Currently, Hainan has gradually entered its middle to late season and shipments have reduced. Some production areas in Guangxi, such as Chongzuo and Tiandong, have begun to take over the market, but the total supply volume is still relatively small. Production areas in the southwest are still shipping in small volumes.

The current sales speed is average, as there are large supplies of seasonal fruits in the market and purchasing power is not high due to Covid-19, but there is a trend of gradual improvement. Whether banana prices can recover quickly in the future depends mainly on the recovery of market demand post- Covid-19.

Source: NCWXJT

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