2019 Banana Price Review and Analysis of Future Planting Prospects

Banana, also called golden banana or Dwarf banana, is a fruit widely cultivated in the tropics. So what were banana prices like in 2019? Is there still a future for planting them?

1. What were banana prices like in 2019?

Prices for bananas differ by region and variety, for example:

1. Changsha, Hunan

Changsha Mawangdui Vegetable Wholesale Market 6.2 yuan/kg; Changsha Hongxing Agricultural and Sideline Products Grand Market 5.4 yuan/kg;

2. Mi banana

Xiangcheng District, Zhangzhou City, Fujian 4.2 yuan/jin; Mazhang District, Zhanjiang City, Guangdong 1.5 yuan/jin; Teng County, Wuzhou City, Guangxi 3.65 yuan/jin; Liwan District, Guangzhou City, Guangdong 3.9 yuan/jin;

3. Williams banana

Fangcheng District, Fangchenggang City, Guangxi 0.95 yuan/jin; Suixi County, Zhanjiang City, Guangdong 1.9 yuan/jin;

4. Guangdong

Brazilian banana in Mazhang District, Zhanjiang City, Guangdong 2 yuan/jin; Guangdong Banana No. 1 in Yuexiu District, Guangzhou City, Guangdong 1.8 yuan/jin.

2. Is there still a future for banana planting?

China is the largest banana-consuming country, while the world's per capita banana consumption is 15 kg, whereas China's is only 2.4 kg. As people's living standards improve, there is great potential for banana consumption. With improvements in transportation and preservation technology, the banana market in the north continues to expand. With improvements in cultivation management, packaging and preservation technology, the commercial value of bananas rises accordingly, market demand surges, and planting prospects are broad.

3. What are the costs and profits of banana planting?

1. Cost

About 200 banana plants per mu is relatively suitable. A banana seedling costs about 4 yuan, so seedlings for one mu require 800 yuan, plus land rent of about 500 yuan. Banana is a heavy-feeding crop; its stems and leaves are large, it grows quickly and yields high, but it requires a large amount of fertilizer during growth, needing multiple fertilizations within a year, and irrigation is also fairly frequent. Each year, fertilizer, water, pesticides and labor management costs per mu are about 3000 yuan, and the cost per mu is about 4300 yuan.

2. Profit

Banana yields are extremely high. Generally each plant can produce about 25 jin, and with 200 plants per mu, the total yield is about 5000 jin. Banana prices are 2-3 yuan per jin; calculated at 2.5 yuan per jin, income per mu is 12500 yuan. After deducting planting costs, net profit is about 8200 yuan.

4. How much does a banana seedling cost?

Prices of banana seedlings differ by specification and place of origin, for example:

1. Kunming City, Yunnan Province

Grade-1 improved banana seedlings 15-30 cm tall are priced at 3 yuan/plant, minimum order 1000 plants;

2. Gaogang District, Taizhou City, Jiangsu Province

Banana saplings with crown diameter 30, height 1.5, ground diameter 2, and sapling age 2 years are priced at 80 yuan/plant, minimum order 10 plants;

3. Daiyue District, Tai'an City, Shandong Province

Small banana seedlings 40 tall with crown diameter 0.30, height 0.30, and ground diameter 1 are priced at 12 yuan/plant, minimum order 100 plants.

Although the prospects for banana planting are considerable, a certain level of technical support is still needed, and growers must also manage carefully and accurately grasp market conditions to achieve higher returns.