Banana prices in Taiwan are anticipated to stabilize by next month, according to Minister of Agriculture Chen Junne-jih. The previous year's typhoon damage resulted in a 46% decrease in banana production, leading to higher prices this season.
Minister Chen stated that the situation is temporary, and there will be no banana imports to protect the domestic market. He made these remarks at an annual tree-planting ceremony organized by the Forestry and Nature Conservation Agency and National United University in Miaoli County.
Given that bananas take approximately 10 months to mature, the current market supply originates from plantings in May or June last year. The majority of domestically grown bananas come from Kaohsiung and Pingtung County, with Nantou County following.
Last month, the Ministry of Agriculture advised that banana prices might continue to rise. In response, the ministry has collaborated with supermarket chains like PX Mart and Carrefour to create lower-priced produce sections aimed at stabilizing prices and meeting consumer demand.
The ministry is also working with producers to expedite the entry of the next banana crop into the market. Meanwhile, consumers are asked to remain patient until the market stabilizes.
Source: Taipei Times