Thailand’s Nam Wa bananas go ‘bananas’ as prices soar
The price of Nam Wa bananas, also known as sugar bananas, has surged to a staggering 60 baht per bunch. Once a staple in Thai households, this beloved fruit is inching closer to becoming a luxury item, with experts predicting a further rise to 80 baht per bunch.
For nearly a month, vendors and consumers alike have been grappling with the steep rise in prices. Traditionally, a bunch of Nam Wa bananas cost around 30 to 40 baht. However, the sudden price hike has left many wondering what’s behind this drastic increase.
According to a local banana plantation owner, extreme weather conditions are to blame. This year’s intense heat, exacerbated by global warming, has led to widespread diseases such as Yellow Leaf Disease and a surge in pest infestations. These factors have severely stunted banana growth, causing a significant drop in supply, said the owner.
“The farm price has doubled from 10 baht per bunch to 20 baht. But even that is still far below the current market price of 60 baht.”
This isn’t the first time Nam Wa banana prices have fluctuated, but this year’s spike is unprecedented. The situation is expected to persist for another two to three months, with the rainy season yet to fully kick in, further limiting production.
Piraphan Korthong, Director-General of the Department of Agricultural Extension, explained that climate factors play a significant role in production. Rising temperatures linked to global climate change are leading to reduced yields, higher prices, and smaller fruit sizes.
Market analysis indicates that the price surge began in June, following a drought and extreme heat in March-April. As a result, the quality of Nam Wa bananas has declined, with smaller fruits failing to meet buyer expectations, reported The Nation.
Experts predict that prices may remain high or slightly decrease by the end of 2024, with normal yields expected to return by early 2025. Until then, brace yourself for a pricey banana fix.
