Published at 1:17 am. Updated at 7:00 a.m.
I walk through the warehouse and wonder how it is possible that the retail price of bananas is so low, $1.99 for a large pack. In my opinion, this price should not even cover the transportation costs. Since this is a very consistent price, it does not appear to be a loss-making product. –Jocelyn Jeffrey
Even if bananas are not immune to price increases, as has recently been the case due to poor harvests, the desire of retailers to keep this product affordable and the efficiency of the production chain, which involves only a few exporting countries and some large food groups, explain the reason why The popular fruit is one of the most easily available fruits in the supermarket all year round.
At least that's the analysis of Pascal Thériault, an agronomist and economist at McGill University. “The banana was essentially developed from a single variety, the Cavendish,” he says. It is a fruit that grows easily, is very homogeneous and very predictable over time. The growing areas – especially in Central America – have no seasons. »
He also recalls that the world's Dole, Chiquita and Del Monte, which trade in it, have created infrastructure (roads, ports) in the exporting countries to facilitate the marketing of the yellow fruit.
“To some extent, these large groups have influenced the domestic politics of these countries. This is where the expression “banana republic” comes from, explains Professor Pascal Thériault. The main exporting countries include Ecuador, Costa Rica and Colombia.
It is a fruit that sells well and is easy to store. Because the shell is thick, you don't have to wrap it again and again.
Pascal Thériault, agronomist and economist at McGill University
Add to that the “less than ideal” working conditions associated with the company culture, and you have all the ingredients to keep the price down.
A convenience product
At Mayrand, Pierre Lapointe, president and CEO, recalls that the banana has become what is known in the trade as a “convenience product.” “It's very rare that people put it on their shopping list, they don't have to think about it, they eat it every week. It's a bit like milk, you know you're going to buy it. »
Despite everything, the big boss of Mayrand – which has four branches – reminds that banana prices are not immune to price increases. “There were very bad banana harvests. The price of bananas is currently up 40%. »
The price went from $21 per box to $31 per box in a month, he says.
Many retailers still choose to offer bananas at an affordable price. “We strive to keep our prices very low, particularly for convenience products, in order to stand out from the competition. »
But given the abundant production, monoculture and disease risks, isn't there a risk that the famous Cavendish will one day no longer be available? Yes, believes Pascal Thériault. According to him, consumers will inevitably have to get used to buying other varieties.
He expects quite a change in habits. “We will have to get used to eating a banana that tastes different to what we are used to,” warns Mr. Thériault. We all have a love for apples, but a banana… it tastes like banana. »
Mayrand has already begun the transition to the smaller, more durable cabana. It now remains to be seen how banana lovers react.