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Analysis of China's banana imports in April, 2021

Customs data show that in April 2021, China’s banana import volume was 226,300 tons, the import value exceeded 120 million U.S. dollars, and the average import price was 540.21 U.S. dollars per ton. The imported volume increased by 22.35% from March and 17.11% from April 2020; the cumulative imported volume from January to April increased by 9.68% from the same period last year.

Figure 1 Comparison of China's banana import volume from 2019 to 2021

Figure 2 Comparison of the monthly average price of China's banana imports from April 2019 to 2021

As shown in the figure, the average import price in April 2021 was significantly lower than in 2020 but slightly higher than in 2019, down 3.74% year-on-year and 3.40% month-on-month. Due to prevention and control measures of the Covid-19 pandemic in some production areas, shipments are restricted. As the temperature rises, bananas ripen faster and become more difficult to store and transport. There are also cases of rotten fruit or fruit falling from the bunch. The quality has been affected and prices have fallen.

Figure 3 Source countries of China's banana imports in April 2021

Customs data show that in April 2021, China's largest source of imports was Vietnam, accounting for 42% of the total imports. The logistics cost in the Philippines has risen and profits have fallen, and there have been delays in transportation. As a result, Vietnam and Cambodia have gradually taken over some of their market shares. In April, the Philippines ranked second among China’s banana providers, accounting for 27% of the total imports. Cambodia and Ecuador rank 3rd and 4th respectively, accounting for 18% and 10% of the total imports. Affected by the local Covid-19 measures at the end of April, shipments in Laos were not large enough to have an impact on the import volume of that month, but are expected to be reflected in May.

At present, Myanmar and Laos are in the off-season, and the shipment volume is small. The recent market of bananas from Laos has fluctuated slightly. Due to the high temperature, some products are rotten, and the feedback from customers is not positive. The season in Yunnan, a local production area in China, is also coming to an end, and large volumes from Hainan are on the market with varying quality, chaotic pricing, and average sales. As the temperature rises, a large volume of seasonal fruit is flooding the market, and the fruit market is under great pressure in terms of competition. It is expected that the banana supply will exceed demand in the short term, the overall market will stay weak, and there are no notable conditions to boost the market for the time being.

Source: My Produce

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