AN over supply of bananas has seen prices for the tropical fruit plummet to $1 a kilogram.
Victoria and other states have been overrun with bananas in recent weeks as warmer-than-usual weather in north Queensland ripens plantations too quickly, The Herald Sun reported today.
The oversupply is so big that some bunches are being left to rot on the ground as fertiliser.
Australian Banana Growers Council chairman Cameron MacKay said the glut meant rich pickings for consumers, but was bad news for producers.
Mr MacKay said farmers had been running at a loss for eight weeks as a dip in demand and irregular climate conditions played havoc.
"There's a lot of discounting going on as retailers try to clear stock," Mr MacKay said.
"We normally start getting cooler weather in mid-May, but this year warmer temperatures have hung around for longer.
"A few degrees higher means you end up producing more bananas faster."
Mr MacKay said shoppers should enjoy lower prices for two to three more weeks before forecast cooler weather hit growing regions.
Most bananas were selling from $1.49kg to $2.99kg at South Melbourne market yesterday.
"At $1.49 a kilo no one's making money. The grower won't get anything, and I doubt the retailer will make much money out of that," Mr MacKay said.
"Really, when you see bananas under $2 a kilo you've really got no one making any money."
Most of the nation's bananas are grown in a stretch from Townsville to Cairns where long-suffering farmers trying to recover from last year's floods.
Australians consume up to 27 million bananas every week.
Read more on The Herald Sun.
