Analysis of Chinese banana imports in April 2021

Customs data shows that in April 2021, China’s banana import volume was 226,300 tons, the import value exceeded US $ 120 million, and the average import price was US $ 540.21 per tonne. Imported volume increased by 22.35% from March and 17.11% from April 2020; the cumulative volume of imports from January to April increased by 9.68% compared to the same period last year.

Figure 1 Comparison of Chinese banana import volume from 2019 to 2021

Figure 2 Comparison of monthly average price of Chinese banana imports from April 2019 to 2021

As shown in the figure, the average import price in April 2021 was significantly lower than in 2020 but slightly higher than in 2019, down 3.74% year-on-year and 3. 40% month to month. Due to the prevention and control measures of the Covid-19 pandemic in some production areas, shipments are limited. As the temperature rises, bananas ripen faster and become more difficult to store and transport. There are also cases of rotten fruit or fruit falling off the diet. The quality has been affected and the prices have fallen.

Figure 3 Country of origin of Chinese banana imports in April 2021

Customs data shows that in April 2021, China’s main source of imports was Vietnam, accounting for 42% of total imports. The cost of logistics in the Philippines has gone up and profits have gone down, and there have been delays in transportation. As a result, Vietnam and Cambodia have gradually regained part of their market share. In April, the Philippines was China’s second largest supplier of bananas, accounting for 27% of total imports. Cambodia and Ecuador rank 3rd and 4th respectively, accounting for 18% and 10% of total imports. Affected by local Covid-19 measures at the end of April, shipments to Laos were not large enough to impact the volume of imports that month, but are expected to be reflected in May.

At present, Myanmar and Laos are in low season and the volume of shipments is low. The recent Laos banana market has fluctuated slightly. Due to the high temperature, some products are rotten, and customer feedback is not positive. The season in Yunnan, a local production area in China, is also coming to an end, and large volumes of Hainan are on the market with varying quality, chaotic prices and average sales. As the temperature rises, a large volume of seasonal fruit floods the market, and the fruit market is under great pressure in terms of competition. The supply of bananas is expected to exceed demand in the near term, the overall market will remain weak and there are no notable conditions to stimulate the market at this time.

Source: my product

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