Trader Joe's Hikes Banana Price for First Time in 20+ Years Despite Stable Costs

• Trader Joe's raised the price of bananas from 19 cents to 23 cents per banana, the first price increase in over 20 years • Bananas are one of Trader Joe’s most popular products, having won the customer choice award 5 times
• The average US banana price has remained stable over the past year at 62-64 cents per pound • Banana prices have stayed low partly due to high competition among retailers • Trader Joe's said it lowered prices on some other produce like romaine, peppers and green onions