Shipments from Laos and Myanmar are still limisted

Banana price pulled back as traders boosted the market by reserving New Year goods

Recently, the overall market in domestic banana-producing areas has been average. As cold air hits some production areas, the fattening speed of bananas slows down, which increases the pressure on the market with insufficient high-quality production. Some agents have reflected that good-quality products in various production areas are difficult to find. Overall, after the price of bananas rose all the way for a certain period, it has declined in various domestic production areas in recent days. The market has gradually stabilized. After the price fell, some markets could accept the origin price and begin to stock goods for the Chinese New Year. It is expected that the banana production area at Xishuangbanna will enter the peak of the season next year, and the Hainan production area will continue to supply the market in March.

At present, although the shipment situation in the production areas of Laos and Myanmar has improved, some local governments have strictly prevented imports to limit the infections originating from overseas as the Spring Festival is approaching. In the context of the rebound of the COVID infections, the market's acceptance of imported bananas is not high, which affected the sales in foreign production areas. After the improvement of the market some time ago, the current shipments in Laos and Myanmar are still limited.

Source: Nongcai Banana News


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