Historical Price of Bananas

A very interesting article about bananas in the NY Times mentions the rapid rise of prices for what has been one of the lowest-priced fruits in the US. I decided to use the new commodity prices section to investigate how much prices have changed over the past twenty five years.

Over the past six months, the price of Central American and Ecuadorian bananas has increased by 43%. Between May of 2007 and May 2008 the price increased by 19% (the price peaked in March of 2008). A five year time frame shows an appreciation of 198.9%, while a 25 year time frame shows a price increase of 83.89%. There is significant volatility in the price of bananas. The lowest price within the past 25 years was USD 250.51 per metric ton in June of 1994, while the highest was USD 1027.36 in March of 2008.

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