Rising temperatures mark the beginning of the slow season in the Chinese banana market. China imported 155,400 tons of bananas in June, which is 27.16% less than in May. The average price of import bananas was 689.64 USD per ton in June, which was an increase of 3.01% compared to May, and a rise of 19.48% compared to June 2021. The average price increase was around 18 USD per ton, but bananas from different countries were affected in varying degrees. China primarily imported bananas from the Philippines, Vietnam, Indonesia, and Thailand.
The Philippines was the largest supplier of bananas to the Chinese market in June. Around 45% of the bananas in the Chinese import market came from the Philippines. After three months, the Philippines was once again the largest supplier of bananas to the Chinese market. In second place was Cambodia with 21%, and in third place came Ecuador with 17%. The import volume from Vietnam declined from 36% in May to 14% in June. Vietnamese banana export to the Chinese market was hindered by renewed anti-Covid measures. Vietnam also struggles with rising cost of production and agricultural resources.
The General Administration Customs China (GACC) announced on the 14th of June that Myanmar obtained permission to export bananas to China in accordance with the 'treaty between GACC and the Myanmar Ministry for Agriculture, Livestock, and Irrigation for the quarantine requirements of bananas transported from Myanmar to China'. This treaty only applies to unripe bananas harvested within 10-11 weeks after flowering. Myanmar is not allowed to export yellow bananas to the Chinese market.
Domestic supply of top-quality bananas is limited. The product quality is uneven. Bananas from Guangxi are not yet on the market in large volumes, and Yunnan plantations are still in their off season too. Some production areas in Hainan, such as Sanya and Changjiang, are nearing the end of their production season. Other production areas in Hainan, such as Chengmai and Danzhou in the north, are currently supplying the market. The supply volume of bananas from Guangdong is growing. Visiting traders are quite eager to purchase bananas, so the price is expected to slightly rise in the near future.
Source: My Agricultural Produce Online