Cairns region sees the resurgence of the banana farm market: HTW Rural
Staff reporterDecember 8, 2020
The Cassowary Coast Regional Council area has seen a continued resurgence of the banana farm market, according to the latest rural report from valuation firm Herron Todd White.
Since July 2019, approximately 20 per cent of total rural sales over 20 ha comprise sales purchased for conversion to banana production or of going concern banana farms.
Banana prices have gradually improved since its 2016 low caused by the Panama TR4 banana disease, according to the report.
Recent trends in banana prices in the Brisbane and Melbourne have both increased.
HTW director Danny Glasson notes 60 sales over 20ha has occurred in the region since July last year.