China: "Banana market is warming up again"
"Bananas are a popular fruit in China, and the imported volume of bananas is large throughout the year. Many countries have already obtained inspection and quarantine certificates that allow access to the Chinese banana market. The list of these countries includes the Philippines, Vietnam, Ecuador, Costa Rica, and Colombia. The banana market has been depressed for a long time, but this year the banana market showed signs of warming up again. The average price is much higher than it was in 2016-2017. It even exceeds the peak price in 2014." This is according to Mr. Lu Houchang of Shanghai Good Farmer Food Co., Ltd.
"The price of imported bananas is still 30% higher than the price of domestic bananas, but the living standard of consumers has also increased. The high-quality, expensive, imported bananas still rely on their novelty value and high-quality taste to stimulate the consumers' desire to buy. However, many traders are still hesitant to import bananas in large volumes, because the market conditions have been far from ideal in the last two years. As a result of all these circumstances, market demand now exceeds supply."
"It is our estimate that these positive market conditions will last until early May. Afterwards, the price of import bananas will drop by 15%-20%. The main reasons for this development are as follows: first, the domestic production of Guangxi bananas enters the market in early May, which will greatly increase market supply. Second, cold weather in the north makes consumers want to buy bananas, but when the weather becomes warmer, consumers switch to seasonal fruit such as watermelon. The demand for bananas then decreases."
"Good Farmer imports high-quality bananas from production areas all over the world throughout the year. These bananas are sold in wholesale markets, supermarkets, and high-end fruit shops in first and second tier cities in China. The main import areas are the Philippines, Ecuador, and Costa Rica. Although the import volume is relatively small."
This article is reproduced and has already indicated the source. If there is still infringement, please contact us
