The Chinese banana price was weak this week (29 March - 4 April). The average price in production areas still showed a slight decline in the beginning of the week, but then began to stabilize. The consumer power in Chinese end markets has not yet recovered from the impact of the COVID-19 pandemic. Traders are not eager to ship bananas and delivery is quite slow. The market is not very active. Laos and Myanmar have closed their borders, traffic is jammed and visiting traders in banana production areas are waiting to see how the situation will develop as the delivery speed is quite low.
However, conditions slightly improved towards the end of the week (29 March - 4 April). The number of visiting traders increased and the delivery speed returned to normal. The market conditions for average quality bananas are stable. The price of top-quality bananas even shows a slight rise. The Tomb-Sweeping Festival [4 April, 2020] has just finished and market conditions are stabilizing. Some people in the industry say that the market price will drop further before it recovers.
Source: ncw365.com