Banana reaches a record price in Mexico

The fruit symbol of Tabasco mountains, the gigantic dwarf banana obtained, after February's closing, the highest warehouse price in history - 178 pesos for a 18.5 kg box - 14% higher than the quote for February 2011 and 80% higher than the price in February 2010.

That is according to the quotes registry from the National System of Information and Markets Integration (SNIIM), which show the prices in the main supplying centres in the country. These prices are an indication of incomes for producers.

SNIIM also exposes in its market analysis the causes for this variety's over valuation: the drop in production due to the cold climate and little rain, not favourable to the fruit's development.

Also, as justified by the Secretary of Economy, Chipas is still making some exports and this is causing the present offer in the wholesale market in the City of Mexico to be limited.

Due to all this, quotations went up to quite a high level, 14.1% in average above the numbers from the same date of 2011.

SNIIM warns consumers, regarding the coming weeks, when banana prices could be higher.

As a consequence of this, the retailing price reached 10 pesos per kilo in February 2012, when in 2011 it was 8.80 pesos, and in 2010, it was 5.60 pesos.

Low consumption of banana

Regarding the banana, after record prices registered last year, consumers dropped a bit on consumption and this caused the price to drop this year. In detail, this year, the frying banana was being quoted at 8.60 pesos per kilo, by the end of February, but last year it reached 11 pesos per kilo.

Source: Tabascohoy