Chinese banana price briefly increased, but remains stable

The price of bananas in Chinese production areas was regular last week (July 5-11) and the overall market conditions are stable, although there was a slight price increase in some production areas. There are not that many visiting traders in the production areas and trade is slow. Chinese consumer power is relatively weak since the outbreak of Covid-19, which is the main reason why the banana market is slow. The retail volume is quite small. The delivery volumes from banana production areas in Hainan, Laos, and Yunnan are not big. Guangdong is supplying a larger volume of bananas, and Guangxi is expected to enter peak period in August and September.

The banana market remains quite weak, and the competition from other seasonal fruits does not help either. However, even under these circumstances the banana price in some production areas briefly increased. This was a good sign for banana farmers, but it remains to be seen how long it will take before consumer power recovers.

Source: ncw365.com


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