Forecast of Bananas Supplies in Northern Queensland in 1st half of 2007

The recovery from Cyclone Larry in March 2006 and return of bananas to the market was slower than expected. However supplies rapidly increased early in 2007, and in January were 20% shipments above for the same period in 2006. Since then demand is high and, while prices have declined strongly from the high prices post-cyclone, prices are still higher than would have been expected in the past for similar production volumes. After large supplies and moderate prices in the first quarter of 2007, expectations regarding the second quarter predict reduced supplies and higher prices.