Japan: Supply troubles affect banana prices
summary：A combination of supply shortages and rising global demand are causing imported food prices to rise in Japan, in spite of a stronger yen....
A combination of supply shortages and rising global demand are causing imported food prices to rise in Japan, in spite of a stronger yen. Supply-side troubles have affected bananas in particular, with disease and drought ravaging plantations in the Philippines, driving up prices there. Imports of Philippine-grown bananas, which account for around 90% of total Japanese imports of the fruit, fell 10% on the year to 394,287 tons. From January to June, Japan imported 72,984 tons of bananas grown in Ecuador -- 2.3 times the year-earlier amount.
The wholesale price at Tokyo's Ota Market came to 2,750 yen ($27.21) per 13kg carton in mid-August, up 6% from the same time last year. Prices of Philippine-grown bananas at that market have climbed 60% over five years.