Cherries Prices

Cherries Prices December 2023

In the fourth quarter of 2023, the price of cherries in the United States reached 1556 USD/MT by December. Similarly, in China, the cherries prices hit 2304 USD/MT in the same month. Whereas, Germany also witnessed cherries prices reaching 1330 USD/MT during Q4 2023.

Cherries Price Trend, Market Analysis, and News

IMARC's latest publication, “Cherries Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” presents a detailed examination of the cherries market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of cherries at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents a detailed cherries price trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting cherries pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.

Cherries Market Analysis

The global cherries market size reached 4.8 Million Tons in 2023. By 2032, IMARC Group expects the market to reach 6.6 Million Tons, at a projected CAGR of 3.60% during 2023-2032.

• The increasing consumer awareness regarding the health benefits of cherries is a major factor driving the global cherries market. Cherries are rich in essential nutrients, antioxidants, vitamins, and minerals, making them a popular choice among health-conscious consumers. Specifically, cherries are known for their high content of antioxidants such as anthocyanins and cyanidin, which are linked to reducing inflammation and lowering the risk of chronic diseases such as heart disease and cancer. The rising prevalence of lifestyle-related diseases, such as obesity, diabetes, and cardiovascular diseases, has led to a rise in demand for fruits that offer significant health benefits. According to the WORLD HEALTH ORGANIZATION (WHO), 1 in 8 individuals were living with obesity in the year 2022. For instance, a study published in the Journal of Nutrition found that consuming cherries can reduce markers of inflammation in the body, which is crucial for preventing metabolic syndrome and cardiovascular disease. This has encouraged consumers to incorporate cherries into their diets as a natural and effective way to improve health outcomes.
• Technological advancements and improved agricultural practices have significantly boosted the production and quality of cherries, thus driving market growth. According to the UNITED STATES DEPARTMENT OF AGRICULTURE (USDA), tart cherry production for 2022 is forecast at 229 million pounds, up 33 percent from the 2021 production in the United States. Innovations in cherry cultivation, such as precision farming, drip irrigation, and integrated pest management, have increased yield and reduced the cost of production. These technologies enable farmers to monitor crop health, soil conditions, and weather patterns more accurately, leading to better management practices and higher-quality produce. Additionally, the development of new cherry varieties that are resistant to diseases and pests has contributed to the stability and growth of the cherry market. For instance, the introduction of self-fertile cherry varieties has minimized the need for cross-pollination, simplifying the cultivation process and ensuring more consistent yields.
• The globalization of the food industry and the expansion of international trade have opened new markets for cherry producers, significantly driving the global cherries market. Countries such as the United States, Turkey, and Chile are among the leading exporters of cherries, capitalizing on the growing demand in regions such as Europe and Asia. The expansion of trade agreements and the reduction of tariffs have facilitated the export of cherries to new markets. For instance, the United States-Mexico-Canada Agreement (USMCA) and other bilateral trade agreements have enabled smoother and more cost-effective export processes. This has allowed producers to reach a wider audience and tap into markets with high demand although limited domestic production, such as China. One notable statistic illustrating the impact of global trade on the cherry market is the significant increase in exports from Chile. According to the UNITED STATES DEPARTMENT OF AGRICULTURE (USDA), the Chilean cherry exports will reach 444,000 MT, witnessing an increase of 7.2%. This increase was largely driven by rising demand from China, which accounts for the majority of the cherry exports in Chile.

Cherries News

The report covers the latest developments, updates, and trends impacting the price of cherries, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the cherries price trend.

Latest developments in the cherries industry:

• In 2023, The NORTHWEST CHERRY GROWERS (NWCG) is initiating a promotional campaign across some of the major cities in INDIA, in order to launch the summer crop of US PACIFIC NORTHWEST CHERRIES.  
• In November 2023, Fruit producers in CHILE adopted numerous techniques to grow and transport cherries to SHANGHAI, in order to reach the ongoing sixth CHINA INTERNATIONAL IMPORT EXPO (CIIE).

Product Description

Cherries are small, round stone fruits that come in various colors and flavors, ranging from sweet to tart. They belong to the genus Prunus and are typically classified into two main types: sweet cherries (Prunus avium) and sour or tart cherries (Prunus cerasus). Sweet cherries are often consumed fresh, while tart cherries are commonly used in cooking and baking due to their higher acidity.

The production of cherries involves several steps, starting with the planting of cherry trees in orchards. These trees require well-drained soil and a temperate climate with cold winters to ensure proper dormancy. Cherry trees bloom in the spring, producing delicate white or pink flowers, which then develop into fruit. Successful pollination, usually facilitated by bees, is crucial for fruit development. Modern agricultural practices, including precision farming, irrigation, and integrated pest management, are employed to enhance yield and quality.

Cherries offer numerous health benefits due to their rich content of antioxidants, vitamins, and minerals. They are particularly high in anthocyanins, which have anti-inflammatory and anti-cancer properties. Cherries also contain melatonin, which can improve sleep quality, and potassium, which helps regulate blood pressure.

Regional Coverage

The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the cherries price trend. 

Global Cherries Price

The report offers a holistic view of the global cherries pricing trends in the form of cherries price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price levels but also provides insights into historical price of cherries, enabling stakeholders to understand past fluctuations and their underlying causes. The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed cherries demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Cherries Price

European cherries prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.

Detailed price information for cherries can also be provided for an extensive list of European countries.

North America Cherries Price

The analysis of cherries prices in North America delves into the regional industry dynamics, encompassing the impact of local production and the trade flows between North America and other significant global markets.

Specific cherries historical data within the United States and Canada can also be provided.

Middle East and Africa Cherries Price

The report explores the cherries pricing trends in the Middle East and Africa, considering factors like the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Cherries Price

The cherries pricing trends in the Asia Pacific are examined, reflecting the role of the region as a major global producer and consumer of agricultural products, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.

This cherries price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Cherries Price

The analysis of cherries prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, agricultural output, and trade frameworks.

This comprehensive review can be extended to include specific countries within Latin America.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of cherries pricing, covering global and regional trends, spot prices at key ports, and a breakdown of FOB and CIF prices.
• The study examines factors affecting cherries price trend, including input costs, supply-demand shifts, and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The cherries price charts ensure our clients remain at the forefront of the industry.