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China: The average price of imported bananas rose month-on-month, and Vietnam's banana imports fell significantly

According to customs data, China’s banana imports in August 2021 were 158,700 tons (158,697,983 kg), with an import value of US$91,686,188 and an average import price of US$577.74/ton. Imports increased by 7.32% from July and 51.81% from August 2020; cumulative imports from January to August increased by 10.21% from the same period last year.

In August 2021, the average import price of bananas was about US$577.74/ton, which was significantly higher than the same period in 2020 and 2019, rose 5.05% month-on-month. Affected by the epidemic, the transportation cost of imported bananas has risen. In August, bananas in Guangxi, China began to enter the market in batches. The overall quality is higher, and the price level is higher than that of other domestic producing areas, which drives the price of imported bananas to a certain extent.

According to customs data, in August 2021, China's largest import source country is still the Philippines, accounting for 52%. Although the export of Philippine bananas has been sluggish this year, Philippine bananas are still better in terms of quality and taste. In August, Cambodia ranked second among China's banana import sources, accounting for 21%; third was Ecuador, accounting for 16%. Affected by the epidemic, China-Vietnam ports have strengthened prevention and control measures, some ports have suspended import and export business, and transportation has been blocked. The import volume of Vietnamese bananas has dropped significantly from the previous month, a decline of 28.12%.

At present, the overall market in various domestic production areas is slightly not good, and the time of delivery is sometimes fast and sometimes slow, lacking continuous positive boost. There is not much supply in Yunnan producing areas, and some new banana production bases have been operated and are expected to be launched in batches at the end of November.

Hainan bananas are entering the final stage and only some products in a small number of areas are left to be shipped. The quality of bananas varies, and merchants purchase on demand; the Guangdong production area has a sufficient supply, and some sources of goods have quality problems.

In addition, due to the influence of the Guangxi production area, the delivery of goods is slow and the market is not positive. The quality of bananas in Guangxi's production area is higher, and the price level is higher than in other production areas. These good products are favored, and most of the merchants are concentrated in Guangxi's production area. There is a large difference in transaction prices in various production areas, most of which are based on quality. It is expected that the market will be stable in the short term, and the price will be adjusted slightly with the transaction.

Source: Myagric.com


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