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The domestic supply is tight, and the average price of imported bananas hits a new high

According to customs data, China's banana imports in January 2022 were 159,200 tons (159,155,259 kg), a month-on-month decrease of 2.59% and a year-on-year increase of 28.81%; in February 2022, China's banana imports were 146,100 tons (146,105,912 kg), a decrease of 8.20% month-on-month and an increase of 5.94% year-on-year.

The average import price of bananas in January 2022 was about US$641.68/ton, an increase of 8.83% month-on-month and a year-on-year increase of 21.12%. The average import price of bananas in February 2022 was about US$664.89/ton, up 3.62% month-on-month and 19.55% year-on-year.

The increase in the price of imported bananas is affected by many factors, among which are ...

Panama disease occurs frequently, and the rate of high-quality bananas is low
From January to February 2022, China's largest source of banana imports is still the Philippines, but the challenges faced by the Philippine banana industry have gradually increased in recent years. While Philippine bananas still maintain a certain market share in their major exporting countries, their export value is declining. In addition, the frequent occurrence of Panama disease of bananas in the production area and the obstruction of international logistics have made it more difficult to export, and the price of Philippine bananas has risen accordingly. In addition to the Philippines, Panama disease has also become more common in Vietnam, Laos, and various domestic production areas in China in recent years.

International logistics are being hindered
Affected by the pandemic, since November 2021, customs clearance at various ports in Myanmar and Laos has been difficult, vehicle detention has been serious, and transportation costs have risen sharply. At present, the Chongqing-Vietnam and Chongqing-Laos cross-border railway trains have been put into use and will provide one-stop services to Vietnam, Laos, Thailand, Myanmar, Cambodia and other countries. However, the phenomenon of traffic jams on land is still relatively common, and cross-border transportation of bananas still needs to find a new way.

The supply of goods in domestic production areas is in short supply, and the price is running at a high level
After January, Guangdong and Guangxi bananas have entered the off-season, and the Hainan production area has not yet started to market. The mainstream domestic production area is the Yunnan production area, and the overall shipment volume is relatively small. Coupled with the boost of the Spring Festival stocking, the merchants are more motivated to get the goods. The supply of bananas in the producing area is short. Due to the low temperature in the production area, the phenomenon of bananas being cold is more common, and the high-quality products are more popular.

At present, Yunnan bananas are still the main suppliers in China, and Hainan has also entered the market, one after another. Due to the rapid price increase in the early stage, the freight rate increased due to the epidemic, and as the temperature increased, the banana storage time became shorter, and the enthusiasm of merchants to get the fruits weakened, and the overall price fell. It is expected that the Qingming Festival stocking may stimulate a wave of market demand, and there is the possibility of banana prices rising in the short term.

Source: mysteel.com


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