"The banana market over recent weeks has been slightly sluggish. Due to hot weather, consumer demand for bananas is not large. Coupled with the high yield in China, prices are under pressure,” Xia Zuxiang, Director of Shanghai Suofeiya International Trading Co., Ltd. Director shared.
"As the season in Hainan is drawing to an end, volumes from Guangdong and Guangxi have become available. The planted area in Guangxi has increased this season. Coupled with the good yield, the total production is slightly higher than last year. Bananas from Guangxi hit the market in early July and are expected to supply through to around December. The current market price is about 1 yuan per half a kilo, which is slightly lower than in previous years,” Mr. Xia said. “It is difficult for growers who planted the first generation of seedlings to make a profit because of the high initial planting costs."
“Due to the low price of locally grown bananas and the limited demand in the summer market, imports have not been large recently. Traders who handle imported bananas in cities have been paying close attention to the development of prices of locally grown products and avoiding making large orders from overseas. The farm gate price of Philippine bananas has stayed at around 6 US dollars per carton (13.5 kg) for nearly two months without improvement. Since July, the arrived volume of Vietnamese bananas has reduced, with market price at 30 RMB per carton (9 kg)."
“Over the past two months, many importers have not been making profits. If the company operating costs, employee salaries, rents of the offices, and other expenses are included, most of these companies are making a loss."
When it comes to the development in the market over the next few weeks, Mr. Xia said, "July to September is the off-season and sales are usually about 30% lower than during the peak season. Part of this is due to lower consumption as a result of the hot weather. In addition, a variety of seasonal fruits are on the market during this period, giving consumers more choices. In any case, the market situation in the future will mainly depend on the marketed volume of bananas from Guangxi and South America, as well as the price of volumes from the Phillipines.”
Shanghai Suofeiya International Trading Co., Ltd. specializes in banana import and trade. The company has its own banana growing centers in Vietnam and the Philippines. "We hope to enrich the choices of Chinese consumers and bring in bananas from more countries!"
More Information:
Contact: Xia Zuxiang (Director)
Company: Shanghai Suofeiya International Trading Co., Ltd.
Mob.: +86 13601718690