Last week (July 12-18), the bananas market in various production areas was stable with slight fluctuations. In major production areas such as Guangxi, western Guangdong, and Hainan, the supply of good quality products in the first half of the week was tight and prices rose slightly. However, in the latter half of the week, due to weather conditions and weak market consumption, the market price didn’t see a significant boost and the price of Chinese bananas in the production area was a bit too high. A a result, the share of Chinese bananas began to fall slightly, but it so far hasn’t had significant a impact on the price of good-quality bananas.
Currently, there are large shipments from western Guangdong and northern Hainan. Shipments from Guangxi are also increasing. The overall banana price is at a good level, with part of the high-quality products marketed at close to 3 yuan/kg. However, the current market as a whole is still somewhat weak, which is largely tied to the recovery of market consumption power.