In Thailand, the cost of kluay hom thong bananas, also known as "golden bananas," has increased to 30 baht (US$0.89) due to heightened demand. Somchai Nunual, from the golden banana and fruit safety group in Bang Kaew district, Phatthalung province, attributes the price increase to the fruit's rising popularity and a decrease in supply caused by a lack of rainfall since the latter half of the previous year. Bang Kaew district, recognized for its banana cultivation over other crops like rubber, rice, or oil palm, faces a significant reduction in banana production. The Ministry of Agriculture and Cooperatives reports a forecasted harvest of only 32,000 tons this year, a stark decrease from the 120,000 tons recorded last year.
Revenue for farmers has also seen changes, with an average income of 278 baht per 100 bananas last year, an increase from 243 baht in 2022, and a projected income of 292 baht per 100 bananas for this year. The kluay hom thong banana, a major export of Thailand, primarily serves markets in Japan, China, and Cambodia. Despite Japan's annual quota of 8,000 tons for the fruit, exports have only reached half of this quota due to production challenges in meeting Japanese quality standards, as noted by the Internal Trade Department.
Source: Retail News Asia