Due to falling cultivation and the spread of disease in major producing areas, banana prices have gone wild in India. Banana inflation increased to 16.5% in November from 2.2% four months ago, according to consumer inflation data released last month. Retail prices have been hovering around ₹30 per kg now, up from₹ 18-20 in October, said traders.
Experts indicate that banana prices may have more upside. The modal price of bananas in Azadpur Mandi of Delhi, one of the largest fruit and vegetable markets, on January 6 was₹2,900 per 100 kgs against ₹1,800 per 100 kgs in October 2023, traders added.
Traders and growers said production in some areas has been affected by as much as 15-30% due to unseasonal rains and disease outbreaks, pushing prices up. "This year, production of bananas has been affected due to erratic weather conditions and diseases in major producing states," said one trader/exporter.
[ ₹100 = €1.10 ]
Source: economictimes.indiatimes.com