Despite plentiful production, banana prices slump

Despite plentiful production, banana prices slump


Although there has been a high yield of bananas year by year in the Sagaing region, the prices of bananas have significantly dropped during the pandemic period, according to the banana growers.

“The local growers cultivate around 1,000 banana trees per acre. The cultivation of bananas costs K2 million per acre. At the time of fruiting, the farmers get back around K5 million per acre,” said a banana grower.

In the 2021-2022 financial year, the Sagaing region will cultivate a total of 1,351 acres of a banana plantation in the cold season, Sagaing Region Agriculture Department stated.

“The banana plantations are cultivated mostly on hills and in remote areas of the Sagaing region. Due to the drought, it is not convenient to grow seasonal crops. Thus, local farmers are growing only banana plantations. Recently, banana plantations have been found on the dykes of the paddy field,” said U Aung Kyi Win, deputy head of the regional agriculture department.

Last monsoon season in the FY2020-2021, the Sagaing region cultivated a total of 25,964 acres of banana plantation, including 645 acres in Mawlaik, 340 acres in Tamu, 896 acres in Kalay, 671 acres in Hkamti, 408 acres in Naga, 4,228 acres in Monywa, 2,877 acres in Yinmabin, 7,616 acres in Shwebo, 622 acres in Kanbalu, 488 acres in Sagaing, 5,447 acres in Katha and 1,726 acres in Kawlin districts, Sagaing Region Agriculture Department statistics showed.