Mr.Thanh, the owner of 0.7 hectares of bananas in Dong Nai, said that in recent years, old bananas have been bought more by traders, so the price has increased sharply. “If last month, a banana bunch of about 15-20 kg sold for less than 100,000 VND, now it is 150,000-200,000 VND. Thanks to that, we offset the loss of the previous months”, Mr. Thanh said.

Also just sold a ton of bananas for 11,000 VND per kg, Mr. Long in Dong Nai said, from the beginning of the year until now, this is the highest price of bananas. “If the price of bananas in the coming time stays at a high level or increases to 15,000 VND per kilogram, people will have a full Tet,” said Mr. Long.

Confirming that the price of bananas is increasing, Mr. Nguyen Van Quang, owner of a banana production facility in Dong Nai, said that the purchasing price of bananas is around 12,500 VND per kilogram for export-grade 1. Particularly for goods of grade 2,3, The price is at 7,000-9,000 VND per kg.

Explaining the reason for the sharp increase in the price of bananas, Mr. Quang said that the New Year is approaching and there are just over 2 months left until the Lunar New Year, so countries have increased their purchase of bananas to serve these occasions. Especially, for China, after social distancing, this country increased purchases to serve to process, so prices increased rapidly.

Forecasting in the coming time, traders buying bananas said that in the last 3 months of the year, the export banana market will be active. Currently, China is still the main export market of this item.