Farmers cultivating golden bananas, or kluay hom thong, in Thailand have reported a surge in business, with rising demand and a consistent increase in price. Somchai Nunual, who leads a group focused on the cultivation and safety of these bananas in Bang Kaew district, Phatthalung province, noted the price per kilogram has escalated from 15 baht to 30 baht. This price increase is attributed to the fruit's growing popularity and a reduced supply due to a lack of rainfall since the latter half of the previous year.
"Revenue among our group has jumped 100%," stated Somchai. Bang Kaew has become a hub for golden banana cultivation, with farmers finding the local soil more suitable for these bananas than for other crops like rubber, rice, or oil palm. Despite the current boom, Somchai anticipates continued growth as other farmers are yet to transition to banana cultivation.
Forecasts from the Internal Trade Department and the Agriculture and Cooperatives Ministry support this outlook, predicting a significant drop in this year's hom thong harvest to just 32,000 tonnes from 120,000 tonnes last year. Farmer incomes have also seen an increase, with the average revenue per 100 bananas rising from 243 baht in 2021 to an expected 292 baht this year.
Golden bananas serve as a key export product for Thailand, with the majority being shipped to Japan, alongside significant quantities to China and Cambodia. Despite an annual quota of 8,000 tonnes set by Japan, only half is currently met due to production constraints. In Ban Lat district, Phetchaburi province, another significant area for golden banana cultivation, farmers express a preference for the domestic market due to competitive pricing and sustained demand.
Source: Bangkok Post