The Philippines remained the largest supplier of import bananas for the Chinese market in October, 2021. The Philippines supplied around 50% of the Chinese market for import bananas. But their share is shrinking as bananas from Cambodia, Vietnam, and Latin America gain ground. Ecuador was the second-largest supplier of import bananas for the Chinese market with a market share of 19%, and Cambodia came third with 17%. The banana production season in Ecuador is reaching its peak. The banana industry in Ecuador is a mature industry with an excellent export system and characteristic products. The bananas from Ecuador are thick-skinned and large, and they have a unique flavor. That is why bananas from Ecuador are doing well in the Chinese market. Laos, however, suffered from the outbreak of Covid-19 in Mohan on the border between Laos and China. Lao banana export struggled to overcome this obstacle. And the Chinese import volume of Lao bananas only recovered in November.
Chinese banana import suffered as foreign suppliers struggled with outbreaks of Covid-19. Meanwhile, the domestic supply volume is limited. And because demand for top-quality bananas exceeded supply, the price soared. The price of premium bananas from Guangxi exceeded 3 yuan [0.47 USD] per 0.5 kg, and premium bananas from Jinghong in Yunnan cost as much as 5 yuan [0.78 USD] per kg. The rising price put pressure on the market, and then gradually stabilized. The prices in production areas are quite stable now and visiting traders are eager to place orders. The price of top-quality bananas in Guangxi production areas is now around 2.50 yuan [0.39 USD] per 0.5 kg. Yunnan production areas have not yet begun to supply the marke tin large volumes, but conditions there are expected to stabilize as well.
In October, the Chinese import volume of bananas shrunk by 5.70% in comparison with the previous month. And the average price declined by 4.09%. Some banana exporters experienced difficulties due to outbreaks of Covid-19. Banana export from Laos to China declined by 41.28% compared to September.
Comparative chart of Chinese banana import volumes in the 2019-2021 seasons
Data from the General Administration Customs China (GACC) shows that China imported 123,900 tons of bananas in October, 2021. The import value was 66,874,816 USD. The import volume declined by 5.7% compared to September, but slightly grew by 0.37% compared to October, 2020. The accumulated import volume in the first ten months of 2021 increased by 6.38% compared to the same period in 2020.
Average prices of import bananas in the 2019-2021 seasons
The average price of import bananas was around 539.75 USD per ton in October 2021, which is slightly higher than in 2020, but still a decline of 4.09% compared to September. The cheapest import bananas came from Myanmar. They cost around 200.05 USD per ton. Myanmar has experienced difficulties exporting bananas due to the ongoing pandemic, and the domestic market is unable to absorb the production volume. As a result, the price kept falling. Many banana farmers in Myanmar suffered significant financial loss.
Major suppliers of import bananas to the Chinese market in October 2021
Source: My Agricultural Products Online