The response of the food industry to Cyclone Yasi in relation to bananas provides some interesting lessons for resilience.
Woolworths and Coles stockpiled bananas in warehouses beforehand and doubled prices for bananas straight away. They say they will double their payments to farmers to help compensate them for crop damage and to help them get back operational ASAP.
Banana prices were well down before the cyclone because of abundant supply and banana farms unsellable. Farmers with nothing to lose will go ahead to reestablish.
There will be no bananas left in a month’s time is the prediction and further price hikes expected.
Many farmers managed to cut back their banana palms before the cyclone which will help the new crop of shoots establish faster than if they had been left to blow down.
The government will keep banana quarantine arrangements in place.
75% of banana farms in far north QLD were battered.