The prices in Chinese banana production areas stopped falling last week (October 11-17) and began to stabilize. The level of consumption dropped after the Mid-Autumn Festival and National Day (both on October 1) visiting traders made very little profit and supply speed was low. In addition, in some production areas the product quality was less than ideal. That is why the price began to fall. That development, however, began to change last week and the banana price began to stabilize.
Visiting traders slowly resumed regular operations and the supply speed is improving, but in some production areas the temperature declined and bananas ripened at a slower pace. Banana farmers are not that eager to sell their stock either, so the market slowly began to stabilize. Still, the market remains weak and the price level is not high.
According to industry specialists consumer power continues to fall, but visiting traders compete to purchase top-quality products, so the demand for top-quality bananas is still strong.
Source: ncw365.com
