Banana prices, especially Nenthiran variety, fell unexpectedly at the Vazhaithar Center on Annur Road near Mettupalayam, disappointing farmers who brought over 9,000 banana bunches for auction on September 11.
Coimbatore: The Vazhaithar Center on Annur Road near Mettupalayam witnessed a significant drop in banana prices during yesterday's (Sept. 11) auction, leaving farmers disappointed. Over 9,000 banana bunches were brought for sale by farmers, with more than 7,000 being of the Nenthiran variety.
Contrary to expectations of high prices due to the upcoming Onam festival in Kerala, where Nenthiran bananas are in high demand, the auction saw prices plummet. Nenthiran bananas were sold at a minimum price of Rs. 20 per kg and a maximum of Rs. 27 per kg. Similarly, Kathali bananas fetched between Rs. 30 and Rs. 60 per kg.
The unexpected price drop is attributed to the cancellation of Onam celebrations in Kerala due to the recent landslides in Wayanad. This development has significantly reduced the demand for bananas in the neighboring state.
While Kathali banana prices remained stable this week, the overall market sentiment was bearish. Farmers who had anticipated better returns, especially for the Nenthiran variety, were left disheartened by the auction results.
The Vazhaithar Center, a crucial banana trading hub in the region, usually sees increased activity and better prices during the Onam season. However, this year's unforeseen circumstances have disrupted the usual market dynamics, impacting local banana cultivators.
Contrary to expectations of high prices due to the upcoming Onam festival in Kerala, where Nenthiran bananas are in high demand, the auction saw prices plummet. Nenthiran bananas were sold at a minimum price of Rs. 20 per kg and a maximum of Rs. 27 per kg. Similarly, Kathali bananas fetched between Rs. 30 and Rs. 60 per kg.
The unexpected price drop is attributed to the cancellation of Onam celebrations in Kerala due to the recent landslides in Wayanad. This development has significantly reduced the demand for bananas in the neighboring state.
While Kathali banana prices remained stable this week, the overall market sentiment was bearish. Farmers who had anticipated better returns, especially for the Nenthiran variety, were left disheartened by the auction results.
The Vazhaithar Center, a crucial banana trading hub in the region, usually sees increased activity and better prices during the Onam season. However, this year's unforeseen circumstances have disrupted the usual market dynamics, impacting local banana cultivators.