Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING
Chinese Chipmaker YMTC Claims 13% of $46 Billion Global NAND Market
Tencent Gains $53 Billion in Value on Reports of WeChat AI Agents
China Launches New Reusable Rocket to Accelerate Satellite Deployment
LATEST
Tencent Opens WeChat to Handset Makers’ AI Assistants
China Launches New Reusable Rocket to Accelerate Satellite Deployment
DJI, Insta360 Lock Horns in Camera Pricing Standoff
Tencent Gains $53 Billion in Value on Reports of WeChat AI Agents
Chinese Chipmaker YMTC Claims 13% of $46 Billion Global NAND Market
China’s Robotics Funding Frenzy Picks Up
In Depth: China Arms Itself With New Legal Tools to Scruntinize Overseas Investment
Zhipu Seeks $2.2 Billion Shanghai Listing to Fuel AI Expansion
In Depth: Huawei’s Bid to Rewrite the Rules of Chip Scaling
Humanoid Robot Maker Unitree Advances Toward $618 Million Shanghai IPO
MiniMax Eyes Shanghai Listing as China AI Firms Chase Capital
China AI Developer Zhipu Hits Record $112 Billion Valuation
Luxshare Gets Lenient Antitrust Fine Over Wingtech Deal
Flying-Car Startup Volant Raises $147 Million Ahead of Potential IPO
ChangXin Clears Key Hurdle for Record STAR Market IPO
Xiaomi Slashes AI Model API Prices by 99% to Match DeepSeek
Huawei Targets 1.4-Nanometer Chip Performance by 2031 With New Design Architecture
DeepSeek Cuts Flagship AI Model Prices by 75% as Funding Round Looms
Wingtech Sues Nexperia in China, Seeking $1.2 Billion and Control of Equity
DJI Says Mass Adoption of Delivery Drones, Flying Vehicles Still on the Distant Horizon
China Goes Bananas for Bananas

By Bloomberg / Jun 25, 2019 03:25 AM / Business & Tech

Photo: Bloomberg

Photo: Bloomberg

Chinese consumers are buying more bananas from abroad than ever before as an increasingly health-consciousness middle class helps propel the fruit’s popularity.

Imports of bananas surged to a record 227,199 tons in May, according to China’s general administration of customs. That helped lift total shipments of fruits and nuts to 720,000 tons, an almost eight-fold increase from the same period last year.

Restrained by limited farmland and a destructive banana fungus known as the Panama disease, China has been increasing its reliance on supplies from Southeast Asia and South America. Demand for bananas is being encouraged by rising incomes and the increasing popularity of diets in China, including for use in smoothies and as banana chips.

China overtook Japan as the biggest foreign market for bananas from the Philippines last year, according to Xinhua News Agency. The country procured more than two-thirds of exports from the Southeast Asian country in 2018 while also expanding supplies from other producers such as Mexico and Cambodia. China bought 1.54 million tons of bananas in 2018, a 50% surge from a year ago, customs data shows.

Fresh fruit prices reached a historic high in China last month, triggering concerns over accelerating inflation. Fruit and nut imports surged to a record in April amid rising local prices.

That momentum could subside in the summer as supplies increase, according to Lu Ting, chief China economist at Nomura Holdings Inc. in Hong Kong. Imports are likely to become the biggest factor in the direction of domestic prices, according to a Xinhua report in May, citing research from its think-tank unit.

Related: In Depth: Frost, Fever and Worms Sow Inflation in China’s Supermarkets

Share this article
Open WeChat and scan the QR code