AU: Coles helps farmers by dropping banana prices
Yesterday, May 25, supermarket giant Coles announced that it has dropped the price of bananas acro…Yesterday, May 25, supermarket giant Coles announced that it has dropped the price of bananas across its New South Wales stores to just $1/kg, for one week only. The market is experiencing an oversupply of the fruit, hence the decision to make it available for 50c cheaper to encourage consumers to enjoy more of it and support growers.
Ideal growing conditions had led to an abundance of bananas in the market, which has meant the price of bananas has dropped 60 per cent in the past three months to $1/kg. The last time consumers saw these kind of prices was in 2011.
In a joint statement with Coles, Mackays Bananas managing director Gavin Mackay, whose family are largest banana growers in Australia, is encouraging everyone to eat more bananas, enjoy them fresh and use them in their favourite recipes like banana bread.
“Never before have we had such an oversupply of bananas for such a long period of time. It’s really important for people to eat more bananas to help banana growers through this time of oversupply,” Mr Mackay said.
Coles Fresh Produce general manager Brad Gorman said Australians consume more than five million bananas a day making them a household staple and one of the top-selling products at Coles.
The price drop will last until Tuesday May 31.
Woolworths will match Coles $1/kg bananas also dropping the price from today for a week.
“Our customers know they can come to us for some great low prices and weekly specials across our stores,” a Woolworths spokesperson said.