Banana sales deteriorate in Guangxi

As one of China's main provinces of banana production, Guangxi has been suffering from deteriorating banana sales since the end of 2015. Prices have been dropping drastically from 1.4 yuan per kilo at the end of last October to currently 0.2 yuan per kilo.

Because of the typhoon in 2014, the yields of banana production have been reduced significantly, followed by the surge in banana prices afterwards. This high price attracted banana growers to rapidly expand their growth acreage, which lead to the increase of banana yields, reaching to a total area of about 0.07 million hectares (1.06 million Mu), an increase of 0.01 million hectares (0.15 million mu) in compared with that of last year.

In 2015, Guangxi did not encounter any serious weather disasters, and the climate is very suitable for growing bananas. These factors contributed to the large yields of bananas. This large quantity of bananas rushed to the market by the end of 2015. The banana yields have increased 16.5% compared with last year. It is estimated that the total output will reach 2.1 million tons, an increase of 116.4% over the previous year.Due to the snow in the north and cold weather in the south, Guangxi bananas' recent sales are deteriorating. The purchase price has dropped to 0.2 yuan per kilo. Until the reportage day of the 25th, 750,000 tons of bananas are still not yet to be harvested.

Source: CNR network