Hainan banana price drop 35%
Earlier this year, the banana prices went up, and a lot of banana growers have benefited from this, so they start to have stocks more at hand, in the hope that the price will continue to rise. As a result, more and more ripe bananas are ready in the market and the price started to decrease.
Generally speaking, around the dragon boat festival period, more and more fruits from Hainan province will come to the market, and the demand for bananas will decrease. Moreover, as the weather gets hotter, the supply of banana varieties such as Baisha and Ledong will soon come to an end, so a lot of mediocre quality bananas hit the market, and the price starts to decrease.
Source: Business Newspaper of International Tourism Island