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Bananas outsmart economic crisis

09-Dec-2009

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Bananas are the agricultural commodity in the best shape to resist the impact of the financial crisis, says the FAO, with a slim decline EU and US imports this year but a boom in developing countries.

The UN agency said China is a major factor in the growth, and if the recession bottoms out by the end of this year demand will increase by 7.8 per cent in 2010.

The main reason is said to be consumers’ view of bananas as a necessities, which makes them less sensitive to changes in price and income. Awareness of its nutritional value is also expected to aid growth.