Extreme weather that occurred by the end of January this year hit banana growing areas in China and southeast Asia countries, for example, Guangxi province, Yunnan province and Myanmar.
The nonstop rain seriously affected the banana growth, which will lead to the insufficient banana yields for the market. It is understood that bananas in Yunnan and Laos, Myanmar nearly reached 60% of ripeness before the extreme weather occurred.
After the cold wave, many banana trees shed their leaves and they could not photosynthesise and grew really slowly. Therefore it is estimated that this year banana yields will decrease by nearly 5-10%. What is even worse, the banana trees in Guangxi province suffered this extreme weather and a lot of the banana sprouts were frozen to death last year, which needed to be replanted this month or early April. Under such circumstance, the harvest time of bananas in this region will be postponed until the end of November.
By contrast, Hainan bananas and Philippine bananas are less affected by the cold wave, and they can make it to the market on time. Despite this, the market needs are still not being met.
Based on the above-mentioned situations, the market is expected to suffer a strong fluctuation. On the other hand, bananas from South American regions, especially Ecuador bananas will be appreciated by domestic consumers thanks to its relatively stable supply and price.
