In: Economics
How did the bush fires impact the production of bananas? What are the implications of this on the market for bananas in Australia?
AUSTRALIAN BUSH FIRE
Over 18 million hectares have burned in the Australian bushfire season 2019–2020 as of mid-January according to media reports, destroying over 5,900 buildings including over 2,800 homes. In addition to human fatalities, many millions of animals are reported to have been killed.
Bananas are Australia’s most popular fresh fruit but recent bushfires have gutted plantations sparking fears supply and cost could be impacted. The Australian's growers are among those severely affected by fires that have ravaged the east coast with some plantations entirely decimated.
NSW and QLD banana growers hard hit by historic blaze. Four banana growers on the mid-North Coast of NSW and a fifth in central Queensland are continuing to recover after suffering severe losses from catastrophic bushfires, which swept through both states in November.
When fires, droughts and natural disasters impact produce, the impact is usually felt in supermarkets. Due to the bushfire there can be decrease in tha supply of banana and the prices would even increase. For all the production company it may take one year to recover from the situation. But so far from the research there has not been any great impact on the The tropical banana-growing regions of northern Queensland.
To help various farmers or the Banana Growers' Bushfire appeal has been setup to raise much-needed funds for growers in NSW and Queensland. The campaign, being run by Vicki McCudden, chair of the Nambucca Banana Growers' Association, seeks to raise $50,000.
Farmers over here says the vast majority of banana growers in the area were impacted and expected that it would take at least 12 months, and good weather, to get back into full production.