China Fresh Banana insights

The price of Vietnamese areca nuts exported to the billion-people market skyrocketed when a large output of areca nuts grown on Hainan Island was damaged by a storm. As soon as the supply in China recovered, the price of areca nuts quickly plummeted.

According to data from the General Administration of Customs of China, China imported 105,000 tons of bananas in September 2024, a decrease of 13.82% compared with the same period in 2023, with a value of US$62.8 million (about RMB 450 million), a year-on-year decline of 16.7%. From January to September 2024, my country imported a total of 1.2 million tons of bananas, a decrease of 8.5% year-on-year, with a value of US$650 million (about RMB 4.65 billion), a decline of 22.44% compared with 2023. During the statistical period, the five major banana suppliers were: 1. Vietnam: 486,000 tons, accounting for 39.34% of imports, with a value of US$201 million (about RMB 1.43 billion) 2. Philippines: 311,000 tons, accounting for 25.2%, worth $175 million (about 1.25 billion yuan) 3. Cambodia: 182,000 tons, accounting for 14.77%, worth $116 million (about 830 million yuan) 4. Ecuador: 177,000 tons, accounting for 14.36%, worth $120 million (about 850 million yuan) 5. Laos: 61,000 tons, accounting for 4.96%, worth $29.4 million (about 210 million yuan)  Among the five major suppliers, only Vietnam and Laos saw an increase in exports to China, with increases of 22.3% and 129.88% respectively. The supply of the other three major suppliers all fell: the Philippines (-39.79%), Cambodia (-9.14%) and Ecuador (-10.61%). In 2024, China's banana importers are distributed in 19 provinces, mainly: Shanghai 584,600 tons, Liaoning 225,300 tons, Zhejiang 88,100 tons, Guangdong 66,000 tons, Tianjin 59,400 tons. It is reported that Laos, where imports have increased the most, has soil and climate suitable for banana growth. The bananas grown here have high organic matter content, are sweet and delicious, have a glutinous taste, and have no hard core when ripe. Among all the cash crops currently produced in Laos, bananas are the highest-earning crop. Last year, Laos' banana exports generated revenue of US$200 million. According to Beijing Youth Daily, with the construction of the Beijing-Laos Railway National With the arrival of the international cold chain train, the first batch of Lao bananas entering Beijing by cold chain train are officially sold in Beijing's Jingkelong, Yonghui, Guoduomei and other major supermarkets, with a price of 3.99-5.99 yuan/jin, which is more competitive than other imported bananas. Zhang Zhongyi, a merchant of Xinfadi Banana King who purchased this batch of Lao bananas, said that 4.5 tons of Lao bananas will be put into Jingkelong Supermarket in the first batch of Lao bananas arriving in Beijing. Railways save about 4 days compared with previous land transportation, and the transportation cost is reduced by 6%. After the opening of the "Beijing-Yunnan-Lancang-Mekong Line" China-Laos Railway International Freight Train, the market share of Lao bananas in Beijing is expected to increase from 30% to more than 50%.

(Agraria.pe) During the month of September 2024, China imported a volume of 105 thousand MT of bananas, decreasing 13.82% compared to the same month in 2023, in terms of value, it represented US$ 62.8 million, suffering a reduction of 16.70% compared to September of last year.