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Tuesday, March 1, 2011

Bananas a new gold rush after Yasi


There is only one thing better than owning a gold mine right now and that is being in possession of a fully functional north Queensland banana plantation.Bananas a new gold rush Bananas in the world post-Yasi are the new gold.

With the industry in over-supply for most of last year, consumers never had it so good. Prices rarely got above $3kg in the shops. Now, it is pay back time. The February cyclone took care of the over-supply problem when it trashed almost every farm between Cardwell and Innisfail.

As a result, prices over the next three weeks are expected to scale peaks reached in the weeks after cyclone Larry in 2006. Back then bananas went as high as $15 a kg. Mareeba district farmer Mick Lankester is one of about 20 growers on the Atherton Tableland supplying fruit to market.

Mr Lankester said he expected prices to start to climb towards the end of next week as fruit stored in cold rooms at major wholesale markets across the nation ran out. He said next week would also see the end of fruit that was salvaged from fallen trees during the first fortnight after cyclone Yasi.

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