With the intensive entry of Yunnan bananas into the market, the supply in domestic production areas is gradually rising. In October 2022, China's banana imports were 105,000 tons, a decrease of 13.91% month-on-month and a year-on-year decrease of 15.04%.
The average import price of bananas in October 2022 was approximately US$624.44/ton, a month-on-month increase of 2.57% and a year-on-year increase of 15.69%. The country with the largest price increase was Ecuador. In October, the import price of bananas from Ecuador was about US$790.32/ton, an increase of 6.58% compared with September. The country with the largest price drop was Cambodia. A decrease of 3.20% compared with September.
In October 2022, China's largest source of banana imports is still the Philippines, accounting for 54%; the second is Cambodia, accounting for 18%; Vietnam has risen to third place, accounting for 13%.
China and Vietnam recently signed the "Protocol between the Ministry of Agriculture and Rural Development of Vietnam and the General Administration of Customs of China on the Phytosanitary Requirements for Exporting Fresh Bananas from Vietnam to China," which will bring benefits and opportunities to Vietnamese banana growers and banana export enterprises.
Implementing the content of the protocol will help reduce the rate of plant inspection and quarantine at ports, speed up customs clearance time, and create favorable conditions for export companies. It will also help reduce congestion at border ports of agricultural products, reduce market risks, and improve the reputation of Vietnamese bananas in China.
At present, the supply of bananas in various production areas in China is gradually getting more. The supply of bananas in Guangxi production areas is sufficient. As the temperature drops, some banana farmers are not in a hurry to sell, and some supply sources are slightly affected by the cold. The production areas of Honghe, Wenshan, and Pu'er in Yunnan have successively entered the intensive entry period, and the sales have gradually increased. Merchants are actively ordering and the price market is stable.
The Xishuangbanna production area will enter the market later, and it is expected to start concentrated sales in mid-December. It is expected that in the short term, the price of bananas in Guangdong and Guangxi will be adjusted within a narrow range, while the production area in Yunnan may show a weak and stable trend with the increase in sales. Affected by factors such as weather, terminal demand, and the prevention and control of the pandemic, it is necessary to pay close attention to the follow-up market.
Source: mysteel.com