Media Releases
Banana wholesale prices fall by 35% while complete recover delayed by cooler weather
Release Date: October 13, 2011
The Adelaide Produce Market is continuing to receive increased stock of post-Cyclone Yasi bananas, with wholesale prices for first-grade premium Queensland stock falling by 35% compared to six weeks ago. However a full and complete recovery has been delayed by cooler weather.
In February this year, Cyclone Yasi caused havoc in Far North Queensland, a region responsible for around 90% of Australia’s banana production and subsequently caused a drastic shortage of bananas since.
“Some banana growers in Far North Queensland were able to trim back their banana trees in an attempt to reduce the impact of Cyclone Yasi. Luckily, this preventative measure was successful and the trees were able to be saved”, Adelaide Produce Market spokesperson Julian Carbone said.
“While these plantations are now producing fruit, the cooler weather has meant we are not at the supply levels we had previously hoped to be,” he said.
The Adelaide Produce Market, who is against the importation of bananas from overseas, predicts a full and total recovery by late December or early January.
“The drastic shortage of bananas has proven to cause difficult and challenging times not only for struggling growers, but also for wholesaling businesses at the Adelaide Produce Market. Banana merchants collectively employ around 100 people,” Mr Carbone said.
