As we enter week 10 of the fruit season, iQonsulting has delivered its latest partial report of the season, regarding the performance of Chilean cherries in different international markets.
Although last week (9) prices in China had a slight rise at the beginning of the week, on Thursday, March 3, they fell again and once again the scenario for the national cherry became complicated: “Last week we had good news because there was a hint of a price increase, the best prices had been around RMB 200, maximum RMB 240 the previous weekend and, the truth is, that lasted until Wednesday because on Thursday the market for Chilean cherries collapsed again in China; therefore, there is very little chance of it re-emerging, there is no hope in this regard, prices are very low,” he warned. Isabel Quiroz, Director and Founder of iQonsulting.
During the recent weekend, prices for Chilean cherries in China were between RMB 40 and 140, equivalent to USD 6.3 and 22 per 5-kilo box, respectively. While the average for week 9 in the Asian giant was USD 4.6 per kilo, or USD 23 per 5-kilo box.
As last week, the outlook in the United States was more encouraging than in China.
“In the United States, Chilean cherries are quite stable. There has been no stock build-up on the market and last week they were traded at an average of USD 40 per 5-kilo box. However, some Lapins that looked quite tired were priced at USD 18 per 5-kilo box, so there is also a wide range of prices here. Cherries that are in good condition are selling at more attractive prices, around USD 35 per box.” Quiroz added.
iQonsulting also pointed out that the market in Europe performed well, but this week it was below the US: “Average prices were USD 30 per box, and there are no more spot prices because there is too little volume to make public prices.”
In the latest report, the Director and Founder of iQonsulting, Isabel Quiroz, warned that it is necessary to anticipate what could happen next year, with the celebration of CNY that will take place during the month of January.
“With this poor end to the season for the third consecutive year, many doubts arise regarding the late cherry business and therefore the management of the markets for this fruit must be reconsidered, especially for next year, when a large increase in production is expected again and the Chinese New Year falls on January 22 and a larger portion of cherries will not be able to reach the market before the celebration,” the specialist concluded.
