Chilean Cherry Prices Plummet, Fresh Grape Market Recovers Strongly

Imported cherries from Chile are experiencing a significant price drop due to an oversupply in the global market. Smaller cherries are selling for as low as 5.9 USD per kilogram in Vietnam. This sharp decline is attributed to stricter quality regulations and oversupply in China, the primary consumer of Chilean cherries. Consequently, exporters have diverted fruit to other markets, leading to increased competition and lower prices. The situation is further exacerbated by a shipping incident that delayed a large shipment of cherries to China past the Lunar New Year. This delay caused further price drops and potential quality issues. In contrast, the fresh grape market is thriving. After facing challenges during the pandemic, Chilean grape prices have rebounded to a 15-year high. This recovery is driven by strong demand in key markets such as Europe, North America, and Asia. Despite this success, the Chilean grape industry faces ongoing challenges, including pest control and competition from other grape-producing countries.