Since the beginning of October, the supply of bananas in the Chinese market has gradually increased, leading to a decline in market prices. This downward trend, however, was delayed by about a month compared to earlier expectations.
"Production levels in several key banana-growing regions were still low just half a month ago, and the strong typhoon in early September affected banana production both domestically and internationally, keeping the market strong and postponing the expected decline. However, since October, the supply from these regions has increased significantly. The volume of bananas imported from the Philippines and Vietnam has doubled, and domestic production is also picking up," explained Mr. Lin Mingxian from Shanghai Zhangxin International Trade Co., Ltd.
Lin noted that banana production has lagged behind last year's levels for most of this year, resulting in higher prices, which in turn slowed down sales. "While current prices remain higher than the same period in previous years, they have adjusted downward from earlier peaks. For example, the price of Philippine bananas has dropped by about 20% from its peak just two weeks ago."
"Banana production in Guangxi, China, was delayed by about a month compared to previous years. This was due to cold weather early in the winter, which affected large parts of Guangxi's growing areas. Many banana seedlings were damaged by frost, requiring replanting, which pushed back the growth period. The peak harvest is now expected between November and December."
Lin further commented on the outlook: "With shipments from the Philippines and Vietnam rising sharply, the supply from Guangxi and Yunnan is also expected to increase significantly in the coming months. We anticipate that the market will continue to adjust downward as volumes increase."
Discussing changes in the imported banana market, Lin added: "Vietnamese bananas are popular in the mass market due to their large volumes. Meanwhile, demand for Philippine bananas has weakened, and prices have softened. High-end markets are showing a preference for bananas from Laos and Cambodia, which are favored for their quality and appearance. In contrast, Ecuadorian baby bananas are in strong demand in East and South China, while larger bananas from Ecuador are popular in the Northeast market."
Shanghai Zhangxin International specializes in importing bananas from the Philippines, Vietnam, and Ecuador, primarily serving the wholesale market.