The grocery chain has increase the price of a single banana for the first time in more than 20 years.
Trader Joe's customers may experience sticker shock the next time they buy a banana —after more than 20 years, the retailer has hiked the price for the first time. The price of a single banana has gone up roughly 20%, rising from 19 cents each to 23 cents. A company spokesperson said that Trader Joe's only changes its prices when costs change. 'We've now reached a point where this change is necessary,' the spokesperson said.
So it's not clear what's behind the rising price at Trader Joe's, but industry experts at the World Banana Forum earlier this month warned that the price of bananas around the world was very likely to rise because of climate change.When temperatures increase beyond optimal levels for banana growth, there's a risk of low yields, Dan Bebber, a leading academic on sustainable agriculture and crop pathogens, previously told CBS News.
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