The loss of banana trees during the hot season has seen the price of popular namwa variety skyrocket, with further rises likely in the next few months, according to wholesalers.
A bunch of namwa bananas, a favourite variety, now retails at 50-60 baht, double the price earlier this year, according to Suchada Kongpunt, a 38-year-old banana wholesaler.
April's searing summer heat and lack of rain wiped out many young banana trees nationwide. The result is being felt with an acute shortage hitting the market hard, she said.
The price surge is also attributed to middlemen competing to buy the bananas from growers and the high cost of fuel to transport them to markets.
Ms Suchada said banana prices could rise even higher in the next two months, possibly reaching 100 baht a bunch.
Department of Agricultural Extension director-general Peeraphan Korthong acknowledged the low supply of namwa bananas, especially in urban areas.
Despite healthy demand, the amount of bananas produced is not keeping pace due to low profits in growing and selling the fruit.
According to the department, the basic cost of producing bananas was 9.6 baht per bunch, while the total profit was 2.64 baht per bunch last year.
Namwa banana prices at Talaad Thai, one of the country's largest wholesale markets, have risen continually since June. The price rise is attributed to low crop yields impacted by the summer heat. The namwa bananas being sold are also smaller and lower in quality.
The prices are expected to either keep going up or decline slightly until the end of the year because of drought, pests and disease, the department said.
Mr Peeraphan recommended that growers figure out when best to grow crops to avoid severe impacts from the weather and price volatility.
