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Banana traders bend on price

Stored under Caption This!GamesMiscellaneousNewsRecipesRelated EBay AuctionsReviewsVideosVisual Stimulation on August 31, 2006

ANANAS have already dropped to below $10 a kilogram in parts of Sydney and Melbourne as greengrocers prepare for an influx of the fruit in coming months that will send prices tumbling.

There are now twice as many bananas being packed off to supermarkets as there were in the winter months after Cyclone Larry devastated the north Queensland growing region.

Banana Traders of Australia managing director Greg Bradshaw said independent grocers had given up on making a profit from bananas and had dropped prices to below cost level to entice customers back to the fruit.

"The independent retailers have suffered with a loss of turnover and trying to make a profit out of bananas was futile because it was affecting their gross turnover," he said.

"Their turnover has gone up considerably and I think Coles and Woolworths supermarkets are now under pressure to match those prices ... they are selling extremely well."

Consumers paid as much as $15 a kilogram after Larry wiped out about 90 per cent of the national crop earlier this year.

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