In most banana production areas the prices dropped last week (16-22 August), and in only a few did the prices rise. The impact of the Covid-19 pandemic is rather significant in banana production areas. On Monday and Tuesday most production areas enjoyed good conditions and the price was stable, or even increased a little. But this trend only lasted a few days. By the end of the week the prices were falling again.
This week the prices in Guangdong and Guangxi fluctuated, but the prices of top-quality bananas from Guangxi were quite good and some even increased, so that the average fluctuation remained small. However, in Guangdong the price visibly declined. The product quality of Guangdong bananas is not as stable as in Guangxi, and the supply volume of top-quality Guangxi bananas is growing, which draws buyers to Guangxi and away from Guangdong where the order volumes are shrinking and the price is falling. The conditions in Hainan and Laos were quite stable this week.
The conditions in Laos are most stable and the price remains strong. In some production areas the price of premium bananas increased by 0.15-0.25 yuan [0.02-0.04 USD] per kg. Previously banana import from Laos to China suffered from a shortage of trucks and other transportation problems, but last week conditions improved. Transport is stable and orders are regular. In most production areas the price of premium bananas is around 5.1 yuan [0.79 USD] per kg or higher, and the price of good quality bananas is around 4.5-4.9 yuan [0.69-0.76 USD] per kg.