Chinese banana market showed overall improvement

Last week (November 1-7), the price of bananas in the production areas showed an overall improvement. Since then, sales have speeded up, the number of active traders and purchasing activities has increased, and the shipment has been smooth. The main reason for this is that as bananas from Guangxi were affected by the cold weather, prices in various production areas were stirred up. With the temperature in production areas dropping, traders were concerned about the possibility of more bananas affected by the cold weather and began to stock up. In the mid to late week, the increase in prices became smaller and the market stabilized.

Among the production areas, the market in Yunnan rose slightly and stabilized in the later week. Bananas from Guangxi were slightly affected by the cold weather, so part of the traders looked to Yunnan instead. As a result, the number of traders and purchasing activities increased. In addition, with the prevalent low temperatures in the production areas, banana growth was slow and the volume was small. In the later week, the acceptance of traders for banana prices declined and the market stablized.

Source: NCWXJT


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