Recently, the topic of “Cherries Cliff Price Drop” has been hitting the hot search lists in mainland China. Cherries are known as the “aristocrats of fruits.” The prices of cherries that have just hit the market this season have been significantly slashed. Industry insiders estimate that the prices of imported cherries in China will continue to decrease.
According to reports from multiple mainland Chinese media outlets, at 3 am on December 13th, after a 22-day journey spanning 20,000 kilometers, the first cherry express ship of the year, “Clifford Maersk,” docked at the Guangzhou Port in Nansha Port Area. This ship, carrying over 11,000 tons of Chilean cherries in 538 containers, marks the first large-scale import of cherries to China this year. The first batch of cherries was delivered to the Jiangnan Fruit Wholesale Market before 7 am on December 13th, officially kicking off the cherry season for 2024-2025.
For the past four years, the Nansha Port Area has been handling large quantities of Chilean cherries, and this year marks the sixth year of normalized operations. The 11,000 tons of imported cherries this time represent the largest single batch of cherry shipments by sea to China.
With the docking of the first ship on December 13th, it is expected that 12 cherry ships will arrive at domestic markets before the Chinese New Year, with a total volume exceeding 1,000 natural boxes. This is anticipated to double compared to the previous year, with the unloading volume accounting for one-third of China’s total cherry imports.
Market predictions suggest that with the large influx of cherries via sea transport, prices will likely decrease. The Cherry Committee of the Chilean Fruit Exporters Association expects a 50% increase in the export volume of Chilean cherries for the 2024/25 season, indicating a significant growth in cherry imports at the Guangzhou Nansha Port this year.
As the supply of cherries continues to increase, industry insiders predict that prices will continue to decline. Once domestic cherries hit the market, cherry prices are expected to become even more affordable.
On October 28th, the first batch of Chilean cherries transported by air safely landed at the Guangzhou Jiangnan Fruit and Vegetable Wholesale Market. Since the introduction of air-shipped cherries this year, the wholesale reference price has decreased from 190 yuan per kilogram to the current 114 yuan per kilogram. During the same period last year, wholesale prices for Chilean cherries fluctuated between 310 yuan per kilogram and 141 yuan per kilogram. The year-on-year decrease in wholesale prices ranges from 38.7% to 19.1%.
Liu Wenpo, Chairman of Beijing Runfuyuan Trading Co., Ltd., stated that on December 12th, the prices of cherries at Runfuyuan were 230 yuan for size 2J (5 kg/box), 260 yuan for size 3J, and 280 yuan for size 4J. Based on this calculation, the price of a kilogram of cherries ranges from 46 yuan to 56 yuan.
In the cherry grading system, especially for cherries from the Southern Hemisphere such as Chile, the size of the cherries is often indicated by the letter “J,” representing the diameter of the cherry. The more “J”s, the larger the cherry. 1J typically indicates a diameter between 26-28 millimeters. 2J represents a diameter of 28-30 millimeters. 3J signifies a diameter of 30-32 millimeters. 4J indicates a diameter larger than 32 millimeters.
By the end of 2023, cherry prices had reached 530 yuan per box (approximately 106 yuan per kilogram). Compared to the highest point of cherry prices last year, the prices of cherries that have just entered the market this year have been significantly reduced.
Rao Yue’e, Business Manager of Shenzhen Pan-Asia Fresh Supply Chain (Group) Co., Ltd., mentioned that this year’s Chilean cherries are abundant, with an expected 50% increase in export volume compared to the previous season. With recent sea shipments of cherries arriving, the prices of imported cherries in China are anticipated to become more affordable.