Chinese cherry prices notably lower this year

Cherry prices this year are notably lower than in previous years. Especially in the past month, prices have dropped by an average of 40-50 yuan per kilogram. It is reported that products currently on the market are mainly imported, and prices vary greatly with size and grade. At present, the most popular varieties in the market include Santina, Regina, and Lapins. There are three grades - J, JJ, and JJJ, based on the diameter of the fruit; the larger the fruit, the higher the price.

According to "South American Overseas Chinese News", the Commercial Counselor of the Chilean Embassy in China introduced that China is currently the world's largest importer of Chilean cherries. The weather in Chile in 2020 was good, and the 2020-2021 season saw a bumper harvest, bringing about a projected increase of 30% in export volume. It is projected that about 500,000 tons of cherries will enter the Chinese market.

The bumper harvest is the main reason for affordable prices. Earlier this season, prices were relatively high as products were shipped by air and the transportation cost was high. Now, the supply mainly comes by sea and the transportation cost is lower, directly leading prices to fall.

On the contrary to the brick and mortar market, e-commerce platforms are seeing hot sales. It is reported that the sales volume on these platforms has grown rapidly in the past month. The industry predicts that the price will be relatively stable in the next month. For the upcoming Spring Festival, cherries will also be sold in gift boxes.

Source: iFresh

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