The latest banana price indexes were recently released by the China Economic Information Service. The report shows that farm gate prices in local production areas increased last month, wholesale prices in sales destinations and the price of imported bananas fell from last month, and farm gate prices of emperor bananas remained the same.
Xinhua analysts pointed out that the supply in local production areas is decreasing in general. Shipments from Hainan are falling and there are only sporadic supplies left in Yunnan. Products from Guangdong and Guangxi are currently coming onto the market but as a whole, production areas are shipping limited volumes and the market is showing an upward trend.
In the wholesale markets in sales destinations, there are currently large volumes of fresh seasonal fruits on the market so bananas are not seeing good sales and prices are generally declining. The market of imported bananas has continued to fall due to the declining market demand. It is now the off-season of Vietnamese bananas, and prices of Philippine bananas have fallen. For emperor bananas, the consumer demand has fallen and the hot weather in production areas has led to lower quality. As a result, farm gate prices are at their lowest for the past five years. Source: Xinhua