China: The average price of imported bananas in December 2021 increased by 10.32% month-on-month

According to customs data, China imported 163,400 tons of bananas (163,394,223 kilograms) in December 2021, with an import value of US$96,336,056. The import volume increased by 15.63% compared with November and 9.90% compared with December 2020; the cumulative import volume for the whole year of 2021 was 1,863,500 tons (1,863,519,944 kg), an increase of 6.67% compared with the whole year of 2020.

The average import price of bananas in December 2021 was about US$589.59/ton, with an increase of 10.32% month-on-month and 11.21% year-on-year. Prices in various places have risen, among which the prices in the Laos producing area have risen the most, from US$439.17/ton in November to US$591.41/ton, an increase of 34.67%. Due to the complicated situation of the pandemic, the traffic jam has been serious since the port reopened. The bananas took a long time to clear customs, the quality was affected, and the market was chaotic.

In December 2021, China's largest source of imports was the Philippines, accounting for 59%. In addition to coconut oil and other coconut products, bananas and pineapples are the Philippines' largest agricultural export products. The Philippines will maintain its position as a major exporter of bananas by curbing Panama disease in the later stage while opening up more pineapple markets. The second-largest source country is Cambodia, accounting for 17%. China is the largest export market for Cambodian bananas. The China-Cambodia Free Trade Agreement has officially entered into force on January 1, 2022, and the banana market will have more growth potential in the later period.

At present, Yunnan bananas are the main crop in domestic production areas, and Guangxi production areas are in their final stage. Some banana orchards have been cleared. The overall price in December was slightly lower than the previous month, but the price of high-quality products was still strong.

There are only a small number of products sold in Qingyuan, Zhaoqing, Huizhou and other areas in Guangdong production areas. Hainan production areas are expected to start entering the market after the Spring Festival. Bananas in different producing areas suffered from different degrees of cold, and the supply of high-quality goods is relatively small as a whole, and the price is mainly stable in the short term. We specifically need to pay close attention to the market outlook.

Source: myagric.com


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