Banana export price doubled

The banana export market continued to be bustling at the beginning of the year, with purchasing prices doubling compared to the end of 2015 and tripling compared to the same period last year.

Mr. Hanh, who grows nearly half a hectare of bananas in Dong Nai, said he is very excited because at the beginning of the year, banana consumption has been bustling, and the purchase price has also increased sharply compared to the same period last year and the end of 2015.

“If at this time last year a bunch of bananas cost only a few tens of thousands of dong, now it has increased to 100,000 dong for a bunch weighing 15-20 kg. This year the bananas produce even, smooth and bright fruit,” said Mr. Hanh.

Vietnamese bananas are popular in many foreign markets. Photo: MH.

Talking to reporters, Mr. Tran Danh The, owner of Tran The Biology facility (Long Khanh, Dong Nai) said that it has only been the first 2 months of the year but export orders have been pouring in.

“Recently, I have been quite busy receiving export orders from domestic enterprises. In particular, orders from the Middle East, Russia, and Japan are increasing. In just the first two months of the year, enterprises have exported about 400 tons,” Mr. The said.added that the price of bananas has increased sharply. If at this time last year the price of bananas was only 2,000-3,000 VND per kg, this year the price has increased more than 3 times, to 10,000 VND per kg, an increase of 30% compared to the end of 2015. This year, the quality of bananas has improved, importers seem quite satisfied with Vietnamese goods. However, because last year the price of bananas decreased, many farmers reduced their planting area, so the supply is not high. According to Mr. The, from April to June, the price of bananas will increase sharply because demand exceeds supply.

Also receiving many large export orders, the director of a banana company in Lam Dong said that since the beginning of the year, his company has exported hundreds of tons to demanding markets. “This year’s weather is less favorable than previous years, so care is more difficult. However, there are now many businesses participating in planting, so the banana area in Lam Dong has expanded and the quality has improved. The price of this product also helps businesses and farmers make high profits,” the director of the above company shared.

Not only did they achieve higher selling prices than businesses in the South, but the number of exported goods also increased sharply in the North.Mr. Tran Van Can, owner of a banana export facility in Hung Yen, said that this year his company's banana export volume could increase sharply compared to the same period last year to 3,000-3,500 tons. In the first two months of the year alone, he exported nearly 500 tons, mainly to Middle Eastern countries.

“If last year I mainly exported to China, this year the majority of orders are to the Middle East. For pink bananas, the selling price is 12,000 VND per kilogram, double the price at the end of 2015. And for bananas, it is 8,000-9,000 VND per kilogram, the highest in the past 2 years,” said Mr. Can.

Sharing more about the banana market recently, businesses said that Vietnamese products are facing fierce competition with Philippine companies. Many Philippine businesses are looking to Vietnam to produce bananas with the hope of having more attractive costs to compete with Vietnamese products. Because recently, their "lucrative" markets are being "conquered" by Vietnamese products.

Currently, the markets of China, Singapore, South Korea and many Eastern European countries are increasing their imports of bananas from Vietnam. Banana prices are always attractive but there are still not enough products for export.

According to VNE