Chinese pre-holiday banana prices picking up

From September 21 to 30, the banana market in China fluctuated. Prices first fell and then stabilized. From this week, prices again began to rise. The fluctuations were mainly caused by weather conditions and people stocking up with supplies ahead of the National Day and the Mid-Autumn Festival holidays. By last week (September 20 - 26), the supply preparation for the holidays was more or less completed and the demand has decreased. This, coupled with adverse weather conditions in the production areas in Guangxi, resulted in banana prices falling.

This week (September 27- October 3), the market is replenishing goods and workers in the plantain farms are about to go off work for the holidays. Various production areas reported that traders are actively making purchase orders, banana prices have picked up, and sales have sped up.

As it will take a certain amount of time to digest the volumes in stock, trade in the coming weeks will depend on how much the holiday market manages to absorb.

Source: NCWXJT

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