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Australian banana drought rebounds to excess

Stored under Caption This!GamesMiscellaneousNewsRecipesRelated EBay AuctionsReviewsVideosVisual Stimulation on February 1, 2007

Australian banana production in the north eastern state of Queensland has returned to normal in areas devastated by Cyclone Larry last year.

The entire crop was wiped out and pushed the price of bananas to nearly $US12 a kilogram.

However, the growing conditions are now so good there is a oversupply in the market.

Cartons of bananas are now selling for nearly $US12, but farmers need around $US14 to break even.

Banana farmer Frank Grant says the glut is especially devastating for the farmers in the Queensland town of Innisfail who lost everything in the cyclone.

"Because they've had no income since the cyclone, they got devastated, they lost their homes, they've lost everything," he said.

"They've worked hard to try and get their crop right and now we turn around and we've got an oversupply of bananas.

"It's a hard one to cop."

[News Source]

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