In the first two quarters of 2023, banana prices in Indian markets witnessed a significant increase, primarily due to limited availability caused by adverse weather conditions and unseasonal rains affecting production. Additional factors contributing to the price surge included higher transportation and marketing costs. The onset of the festival season heightened demand, with day-to-day sales nearly doubling, exacerbating the supply-demand gap. Some producers in Maharashtra, Gujarat, and Andhra Pradesh reduced their rates amid the pandemic, further affecting the banana market. Exports also flourished due to international demand, collectively propelling banana prices upward during this period.
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Definition
Bananas are tropical fruits characterized by their elongated, curved shape, and vibrant yellow skin when ripe. They are celebrated for their sweet and creamy-textured flesh, rich in essential nutrients like potassium, vitamin C, and dietary fiber. Bananas are a popular and nutritious snack, known for their natural energy-boosting properties. They are versatile and commonly used in a variety of culinary applications, including baking, smoothies, desserts, and breakfast dishes. Bananas are valued not only for their delicious taste but also for their nutritional content and portability, making them a convenient and healthy choice for people of all ages.
Key Details About the Banana Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Banana in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Banana Price Trend, including India Banana price, Banana Price in USA, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Banana Price Trend:
Bananas, primarily enjoyed as a fresh fruit, have limited industrial applications compared to some other crops. However, they do have a few industrial uses. Banana peels, for instance, contain compounds like tannins, which have been explored for their potential as natural dyes in the textile industry. Additionally, banana plants’ fibers can be extracted and used to make textiles and paper. While these applications are relatively niche, the primary industrial use of bananas lies in the production of banana-based products like banana chips and dried banana, which are processed and packaged on an industrial scale for snacks and culinary use.
Key Players:
- Fresh Del Monte
- Chiquita Brands International Sarl
- Fyffes
- Dole Food Company
- Reybanpac
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