Chilean cherry prices in China 'significantly' lower than previous season
High volumes coupled with a slightly fruit lower quality have led to Chilean cherries fetching far lower prices in China this campaign compared to the last one. 
In a recent report, Chilean fruit industry consultancy company Decofrut said by week 5, about 100,000 metric tons (MT) of cherries had been exported from the South American country - a 45% year-on-year increase.
Of this total, 83% has been sent to the Far East, with China and Hong Kong receiving 96%.
"The high export volumes this season have impacted negatively on the prices fetched by Chilean cherries in China, which have remained lower throughout the entire season compared to the last season, with a significant difference," Decofrut's Information Department said.
It added that prices over the last five weeks had seen 'repeated' declines.
Although since week 2 onward some 10,000MT of Chilean cherries have been arriving into Hong Kong and China, many of the containers will not be opened for a few weeks so as to fetch higher prices closer to Chinese New Year on Feb. 19.
The cherries are said to be sitting in the containers under 'adequate' conditions, and will be sold when there is a much greater demand in the country.
With regards to cherries' quality, recently a larger amount of less firm fruit has been recorded, which natural fetch lower prices.
This is be attributed to both rains in Chile last November that affected the fruit, and also the long time the fruit has been in storage.
"The price difference between Chilean cherries of a moderate to good quality compared to low quality fruit is, on average, between US$5.60 and US$16.00 per five-kilogram box (the range depends on the size, and is for the Bing variety"," the report said.
"Currently, the prices of Chilean Bing cherries of a decent condition have been selling in the Chinese market at between US$36 to US$44 per five-kilogram box."
Decofrut added that despite the lower prices this season, it should be remembered that the recent exchange rate has been particularly favorable for Chilean exports.
Photo: www.shutterstock.com
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