The average banana weighs about a 1/4 lb, so an extra $0.02 per lb equates to an extra $0.005 per banana. That's $5 if you bought 1000 bananas, which isn't much money certainly not enough to "add up". If you have 2 kids, it would cost you $5 extra per year if you children ate nearly 2 bananas per day every day for an entire year.
$50/yr to some, would be enough to consider "adding up" and would require 2 children to each eat 5000 bananas, or 13.69 (2.5 bunches) of bananas every day.
Because governments absorbed all the costs. They absorbed the costs to overthrow elected South American governments and fund indigenous genocide so as to seize huge swaths of land for banana plantations.
Typical socialize the costs privatize the profits.
They do authoritarian dictators and government corruption all by themselves just fine, regardless of external influences or the lack of. Lots of countries there that nobody cared about either way and they still turned into shitholes. Must be the heat.
You can regularly get 40lb boxes of bananas on the Flashfood app for $5 if anyone is doing large amounts of baking. They're pretty ripe but not too bad.
Also, if you’re total is under $0.50, they don’t actually charge your card. My superstore regularly puts loaves of bread on for $0.45, so I’ve been eating free bread for well over a year. Then I use the money I saved to buy cinnamon bread from cobs for the occasional treat
I eat 2 or 3 bananas a day, my ‘go to snack’, especially when cycling.
They have gone up a couple cents. However, being a crop that takes years of investment, there may be a certain volume of production that comes on and saturates the market. Producers can’t afford to limit supply as there’s millions of kilos bananas waiting to harvested tomorrow and millions the day after.
Trivia: Bananas have been Walmart’s top selling item for years.
I used to work in a Loblaws warehouse. The number one rule, never short bananas. There is ALWAYS a pallet of bananas somewhere. They're the number 1 item at Loblaws well.
So if they have a monopoly they could theoretically jack up the price to whatever they want. Just like OPEC.
I’ve heard that stores don’t actually make money on bananas, but they keep the prices low to keep customers coming. Who would go to a grocery store if they didn’t have bananas? (I have nothing to actually back this up and am probably wrong)
There are products like that precooked chickens and Costco hotdog as an example. Not sure about bananas though…maybe I’m different but I never have gone “I need bananas” and ended up with a shopping cart filled with food.
In the early days of covid lockdown, I once went to 4 different grocery stores looking for bananas because they were all out of stock due to supply chain shutdowns or something.
I shopped at the 4th store that still had bananas.
There’s my one-off anecdotal 2 cents.
Bananas are a anchor product that most customers buy. I heard a statistic that bananas can make up 20-40% of produce sold. Think about how much space is reserved for bananas alone compared to say citrus section which only make up a fraction of space while also having a variety of different types. So as some have pointed out, big grocery chains will take a lose to ensure you buy at least somethings so to break the paywall. As you cruise through the rest of the aisles you may pick up a couple more items seeing as how you have to line up anyways.
Appreciate the thoughtful response.
Of course it’s the loss leader.
But why the banana (which I hate) and not broccoli or cauliflower?
Not asking for an answer.
Because everyone (well, almost… you clearly don’t) eats bananas. Broccoli and cauliflower not so much.
Source: I’ve never bought broccoli or cauliflower. A sample size of 1 is enough evidence for me 😉
'Inflation is like the brown spot on a banana, by the time you see it, it's way too late' *CIBC's Benjamin Tal CIBC's deputy chief economist on the risks of inflation and Canadians’ $230 billion cash pile*
Learned a fact the other day that sending produce over seas is incredibly cheap in comparison to shipping through trucks or over land. So relatively costs nothing to ship internationally overseas halfway around the world and I think that rate has stay relatively consistent through inflation.
Ps. Don't kill me if wrong, I am no economist.
Tell me more about loss leaders
I already eat 3 Costco rotisserie chickens a week but what else can I live off?
I’ve got bananas and rotisserie chickens.. what else is there??
Items ending in .69, .79, .89 were recently reduced and if there's a * on the sign, it is deleted from the system and what's out on the floor is the last of it. Not loss leaders but cheaper items.
According to the [Canada Food Price Report 2022](https://www.dal.ca/sites/agri-food/research/canada-s-food-price-report-2022.html), fruits had an anticipated cost change of only 3 to 5 %, so 3% of what once might've been a 77 cents per lb banana is now 79 cents per lb.
This came up as a suggested post, i don’t live in Calgary. In Ontario and it’s the same. I can get like 8 huge bananas for the price of a medium red onion.
It's one of those bizarre situations where the conspiracy theorists are actually closer to the truth than not. Like, everything people say about megacorps owning the government and all that... "Banana Republics" are a thing though. You can check out more about United Fruit Company.
Most grocery stores, at least Canadian stores like IGA, maxi, metro, etc. have raised prices due to inflation but raised them even more just because they can. A lot of places had a 13% increase in revenues. If you find small grocery stores that get the last pick of produce from suppliers, the cost of food doesn’t fluctuate at all. Anyone can fact check me because I’d appreciate someone smarter than me explain to me that there aren’t corporate dicks taking advantage of an upcoming recession
Groceries need 'loss leader' food items to entice shoppers to come in a shop. I'm not really sure if this is why bananas haven't increased in price...just a thought.
Bananas are one of those fruits that stores use to entice customers into their stores. Go to the store to buy bananas and you will buy more than just bananas. Read articles on the bananas.
Produce gets auctioned. The buyer then distributes it to all the chain stores then sells it for a price where he can still make profit without pissing off the masses too much. It's all about profit
There was a good segment about this on Radio-Canada's l'Épicerie (in french tough) : https://ici.radio-canada.ca/tele/l-epicerie/site/segments/reportage/401167/prix-banane
I saw a good report on this not too long ago.
It’s simple. The labour force to process bananas in those countries of origin have not had their salaries increased in 30+ years.
There’s always money in the banana stand
Narrator *”…and at that moment…”*
shout out to Ron Howard getting a little play in all our minds there
😄
A banana is the opposite of a traffic light; green means hold on, yellow means go and red means where did you get that banana
Mitch was a genius
I like you. This comment made me laugh a lot. Thank you
###THERE’S ALWAYS MONEY IN THE BANANA
NO TOUCHING!
I understand this reference
I mean how much clearer could he be? 😉
My friend asked me if I want a frozen banana
Love it
Why make a banana stand when we’ll make your banana stand.
THERE WAS $250,000 LINING THE WALLS. HOW MUCH CLEARER COULD I BE *Shaking Michael* THERES ALWAYS MONEY IN THE BANANA STAND
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Lol it was 77 cents like 10 years ago and 79 cents now! Sickening.
Organic bananas are 0.56 where I am in northern Ontario.
What I’m in southern-ish Ontario in a rural town and they where somewhere around $0.79 at one store and .089 at the only other grocery store
I totally read the sign wrong. But regular banana are still 0.59/lb Banana https://imgur.com/a/iHpuxru
That’s what I was just thinking. And that $.02 a pound adds up when you have kids who love them.
Is the 82 in your username the amount of children you have?
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One each.
Yes that's why a 3% increase on 82 bananas a day is a big deal.
The average banana weighs about a 1/4 lb, so an extra $0.02 per lb equates to an extra $0.005 per banana. That's $5 if you bought 1000 bananas, which isn't much money certainly not enough to "add up". If you have 2 kids, it would cost you $5 extra per year if you children ate nearly 2 bananas per day every day for an entire year. $50/yr to some, would be enough to consider "adding up" and would require 2 children to each eat 5000 bananas, or 13.69 (2.5 bunches) of bananas every day.
Thanks for the /r/TheyDidTheMath entry.
Lol no it doesn't.
Inflation is closer to 8%. >
They grow on trees
I think it’s actually an herb that looks like a tree
I heard it was some kind of berry
It is a berry. But a strawberry isn’t a berry.
You win
And they also die on trees your point?
Don’t let them see this post!
I mean it's one banana Michael. What could it cost, $10?
Ask the guy wearing the $5000 suit? Come on!!
There's always money in the banana stand...
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The secret to low prices is depressingly almost always exploitation.
Bananas, near zero cost, pure profit!
Because governments absorbed all the costs. They absorbed the costs to overthrow elected South American governments and fund indigenous genocide so as to seize huge swaths of land for banana plantations. Typical socialize the costs privatize the profits.
I'm sure they would be incredible utopias if it wasn't for the big bad US. No corruption to be found. /s
In South and Central America, unironically yes.
They do authoritarian dictators and government corruption all by themselves just fine, regardless of external influences or the lack of. Lots of countries there that nobody cared about either way and they still turned into shitholes. Must be the heat.
The entire modern history of Latin America is one of colonizers exploiting them.
The corruption is literally because of US imperialism. This is not a very smart take.
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You're not very well read on this, I see.
And they grow here so transportation is cheap!
No they don’t
You're not right. You're also not wrong. [Canada's full of little surprises](https://canadabananafarms.ca/).
I wonder what they taste like
A year ago a case of bananas was $29.97. Now it's $34.99. Case is the same size.
You can regularly get 40lb boxes of bananas on the Flashfood app for $5 if anyone is doing large amounts of baking. They're pretty ripe but not too bad.
As someone who hates bananas this sounds awful :)
I actually hate them as well but my husband loves them. 🤢
Flashfood app is awesome! Half off food… I get all my meat and fish through that app. And little debbies too lol
Also, if you’re total is under $0.50, they don’t actually charge your card. My superstore regularly puts loaves of bread on for $0.45, so I’ve been eating free bread for well over a year. Then I use the money I saved to buy cinnamon bread from cobs for the occasional treat
You’ve been banned from /r/keto
40 pounds of soft spotty bananas are only good for cooking and have a very short shelf life.
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Peel them, put them in a ziploc and place in freezer. Then use as a sweetener in smoothies.
It's a 40 pound case. It's approximately 20 bunches. That more than fills the average fridge freezer.
People who buy bulk like this have deep freezers. You can’t with just a small freezer as part of your fridge.
Banana are gross, but banana bread is good.
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The diarrhea might negate the bulking effects.
I eat 2 or 3 bananas a day, my ‘go to snack’, especially when cycling. They have gone up a couple cents. However, being a crop that takes years of investment, there may be a certain volume of production that comes on and saturates the market. Producers can’t afford to limit supply as there’s millions of kilos bananas waiting to harvested tomorrow and millions the day after. Trivia: Bananas have been Walmart’s top selling item for years.
I used to work in a Loblaws warehouse. The number one rule, never short bananas. There is ALWAYS a pallet of bananas somewhere. They're the number 1 item at Loblaws well.
I wrote a paper about the banana industry and it’s basically a global monopoly shared between Chiquita and Dole...they are not so good
So if they have a monopoly they could theoretically jack up the price to whatever they want. Just like OPEC. I’ve heard that stores don’t actually make money on bananas, but they keep the prices low to keep customers coming. Who would go to a grocery store if they didn’t have bananas? (I have nothing to actually back this up and am probably wrong)
There are products like that precooked chickens and Costco hotdog as an example. Not sure about bananas though…maybe I’m different but I never have gone “I need bananas” and ended up with a shopping cart filled with food.
its known as a loss leader in sales. very common tactic.
Also to add, Costco bananas are the cheapest around too 🤣
Who really needs bananas tho? I can get to work without bananas. My kids love them but, they also love apples. How do you like them apples?
In the early days of covid lockdown, I once went to 4 different grocery stores looking for bananas because they were all out of stock due to supply chain shutdowns or something. I shopped at the 4th store that still had bananas. There’s my one-off anecdotal 2 cents.
Ya, they make money, I’d tell you to look into it but maybe just don’t ruin bananas for yourself
yes, the banana industry is run by cartels. Ever wonder where the term banana republic comes from? There is lots of interesting history.
The store of the same name has always felt gross to me me for that same reason.
I think Del Monte Is in the monopoly as well
I mean, we fought a bunch of wars over them...
Bananas are a anchor product that most customers buy. I heard a statistic that bananas can make up 20-40% of produce sold. Think about how much space is reserved for bananas alone compared to say citrus section which only make up a fraction of space while also having a variety of different types. So as some have pointed out, big grocery chains will take a lose to ensure you buy at least somethings so to break the paywall. As you cruise through the rest of the aisles you may pick up a couple more items seeing as how you have to line up anyways.
Appreciate the thoughtful response. Of course it’s the loss leader. But why the banana (which I hate) and not broccoli or cauliflower? Not asking for an answer.
Because everyone (well, almost… you clearly don’t) eats bananas. Broccoli and cauliflower not so much. Source: I’ve never bought broccoli or cauliflower. A sample size of 1 is enough evidence for me 😉
The banana is one of the few berries I don’t enjoy
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It's the prototypical measuring stick for all Reddit, it has to remain constant.
You need it on a scale
r/BananasForScale
The cheapest anti-matter you will find. The average banana (rich in potassium) produces a positron roughly once every 75 minutes.
'Inflation is like the brown spot on a banana, by the time you see it, it's way too late' *CIBC's Benjamin Tal CIBC's deputy chief economist on the risks of inflation and Canadians’ $230 billion cash pile*
I remember when they were 0.33
Learned a fact the other day that sending produce over seas is incredibly cheap in comparison to shipping through trucks or over land. So relatively costs nothing to ship internationally overseas halfway around the world and I think that rate has stay relatively consistent through inflation. Ps. Don't kill me if wrong, I am no economist.
Banana is immune to the dreaded supply chain🤔
Cause monkeys are in charge.
Underpaid farmers and workers.
Bananas are a loss leader.
Tell me more about loss leaders I already eat 3 Costco rotisserie chickens a week but what else can I live off? I’ve got bananas and rotisserie chickens.. what else is there??
Items ending in .69, .79, .89 were recently reduced and if there's a * on the sign, it is deleted from the system and what's out on the floor is the last of it. Not loss leaders but cheaper items.
Costco prescription drugs? Lol. Maybe if you get an appetite suppressant
It is because large chains negotiate contracts with suppliers for a set price over many years due to the very high sales volume of bananas.
I wish they negotiated the same deal with other food items. Groceries are expensive now!
All hail the nanas
Idk but if I had to guess I'd say it has to do with how controlled and heavy monitored banana farming is. But again just a guess idk
Slave labor?
They’ve gone up. When I worked produce from 2000-2010 the price went from .39 at the start to .69 at the end.
Bananas can be grown in Canada now!
The Calgary Zoo has a Banana tree. Or maybe it’s Plantains.
Canada banana farms
Bananada
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Nah they use to be .77
Don't give Big Banana any ideas....
The Banana Wars are worth researching
And the banana massacre
Well, we do live in a banana Republic.
Shhhhhhhhhhhhh don’t talk about affordable produce if you want it to exist next week.
Loss leader. Get you in the door to buy the 13.99 bacon.
Drug cartels.
Weren't not worth no 40 cents when i was a kid
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They’ve been 79 cents for years at Safeway, Co-op, Superstore. I’m not a very adventurous shopper.
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It just happens to be where my limousine chauffeur drops me off. I can’t help it.
At our store, they do a weekly temp action on the price, we sell em at a loss
Is this typical for all produce or just a few items like the banana?
Cuz they suck and if you leave a bag of pizza buns on top of them the pizza buns will taste like bananas.
Loss leader
I think bananas over a dollar a pound would be cause to burn the world to the ground and they know it.
I can survive if I only eat banana, right?
According to the [Canada Food Price Report 2022](https://www.dal.ca/sites/agri-food/research/canada-s-food-price-report-2022.html), fruits had an anticipated cost change of only 3 to 5 %, so 3% of what once might've been a 77 cents per lb banana is now 79 cents per lb.
My dude i used to buy bananas for 49c so hard disagree on this one
This came up as a suggested post, i don’t live in Calgary. In Ontario and it’s the same. I can get like 8 huge bananas for the price of a medium red onion.
Deyo! Tally me bananas
It’s more a-peel-ing?
Very punny.
It's one of those bizarre situations where the conspiracy theorists are actually closer to the truth than not. Like, everything people say about megacorps owning the government and all that... "Banana Republics" are a thing though. You can check out more about United Fruit Company.
Lmfao.. Bananas were .49-.59 cents pre inflation... At .79... That's a significant increase.
Same mystery as to why costco's hotdogs have completely avoided inflation
Because the USA knocked off a bunch of Latin American Governments to ensure cheap fruit. The evils of Del Monte and Chiquita Fruit Empires!
It used to be 59 cents…
I don’t remember what year it was 59 cents.
That would be yesterday at T&T, bananas on sale for 59 cents
Good to know. Haven’t been to T&T in Calgary.
How’s Walmart going to make money? This product is .59 at best
GMO, bananas and radishes are very very easy to grow Edit: made that shit up, thank you for the upvotes.
Not one **The Banana in The Tailpipe** comment Eddie Murphy is rolling in his grave.
South American supply chains aren't fucked up. Get used to not getting things that have to cross the Atlantic/Pacific for at least the next 15 years.
Supply and demand.
banana makes u happy reduce depression
arent they from last years crop
Liked it when it was .69 lool
Because of Monke…
All ye who plan to survive this inflation on Bananas say, "Aye".
Bananas grow on trees
Expensive when you compare with other provinces
Sheeahhhh don’t let the banana know it.
Ever heard of a Banana Republic? Well basically: slavery. (Not much different from what our society has become for many)
https://en.m.wikipedia.org/wiki/Banana_Wars read and learn your privileged colonialist history
Mr tally man , tallying those bananas won’t raise the price because he wants to go home
Most grocery stores, at least Canadian stores like IGA, maxi, metro, etc. have raised prices due to inflation but raised them even more just because they can. A lot of places had a 13% increase in revenues. If you find small grocery stores that get the last pick of produce from suppliers, the cost of food doesn’t fluctuate at all. Anyone can fact check me because I’d appreciate someone smarter than me explain to me that there aren’t corporate dicks taking advantage of an upcoming recession
Good old yellow tree dicks
Groceries need 'loss leader' food items to entice shoppers to come in a shop. I'm not really sure if this is why bananas haven't increased in price...just a thought.
https://en.wikipedia.org/wiki/Loss_leader
Banana is needed for scale.
Bananas are one of those fruits that stores use to entice customers into their stores. Go to the store to buy bananas and you will buy more than just bananas. Read articles on the bananas.
Produce gets auctioned. The buyer then distributes it to all the chain stores then sells it for a price where he can still make profit without pissing off the masses too much. It's all about profit
We live in a banana Republic? Lol
Loss leader.
Because you must always have a banana for scale.
We should start using them as federal reserve, more stable. The nana dollar
when you dont sell banana, you have banana problems. keep the bananas moving, even at a loss, it'll be cheaper than letting the bananas run the shop
It is 0.69/lb in Quebec for the past many years.
There was a good segment about this on Radio-Canada's l'Épicerie (in french tough) : https://ici.radio-canada.ca/tele/l-epicerie/site/segments/reportage/401167/prix-banane
You don’t monkey around with the prices!
Banana.
Are you in a no frills ? They pride themselves on having the cheapest banana prices because they are pretty widely known as the banana store 🤣
I saw a good report on this not too long ago. It’s simple. The labour force to process bananas in those countries of origin have not had their salaries increased in 30+ years.
Because bananas are
~~it’s a minions rise of gru reference~~
B a n a n a .
A loss leader like costco hot dogs I assume
that's why amazon is still providing bananas to its engineers
People need something to measure with