Cherry Prices Explained

Cherry prices decreased this year as abundant supply crowded the market as producing countries, like China, Chile, and the U.S. regained their output. Cherry farmers experienced economic losses due to changing weather systems and the fruit’s inability to stay fresh in storage. For instance, Oregon growers harvested less than 75% of their crop with farmers leaving more than half of their orchards unpicked due to ice storms and wildfires. 

Additionally, direct competition among producers across the states, bumper harvest in Europe, and intensified competition among e-commerce platforms contribute to the declining cherry prices.

Why are cherry prices fluctuating?

1. Plenty Imports

Cherry in Chinese markets continuously experiences a significant drop in price value as the country’s imports surge. China (the world’s largest importer) buys 97% of Chile’s cherry. However, the country’s available and swift e-commerce platforms compete with traditional sellers which causes the commodity’s oversupply and price freefall.

2. Cherry Varieties

Different cherry types have different qualities, like size, flavor, color, and shelf life. For example, consumer preferences for certain varieties drive higher demand and prices, with sweet cherries generally commanding higher prices due to their popularity as fresh fruits.

On the other hand, sour cherries which are essential in the production of jams, pies, and juices cost less than the sweet ones.

3. Harvest Season

Another important factor that influences cherry pricing is their harvesting period. During the peak season, when cherries are abundant and fresh, their prices decrease due to increased supply.

However, various factors such as weather, pests, diseases, and disasters affect crop productivity, ultimately affecting its market price.

4. Competition Among Producers

Increased competition usually means more produced cherries as producers compete for a bigger piece of the market. Conversely, cherries become less expensive if production exceeds demand and growers compete to sell their fruit. If there’s not much competition among cherry producers, its prices stay high because suppliers don’t feel the need to lower their prices to attract buyers.

Which variables impact the price of cherry?

• Decline in Imports
• Variety of Cherry
• Harvest Season
• Competition among Producers
• Crop Yield and Quality
• Market Demand

Where does cherry come from?

Cherry fruit is a fleshy drupe that grows best in areas with moderate temperatures and requires winter frost to develop properly.

Additionally, Turkey, the U.S., Iran, and China are the top cherry-growing countries in the world. There are two main types of cherries:

Sweet Cherries – These cherries are known for their juicy and sweet flavor, typically consumed as fresh fruit. Additionally, they originated in Asia between the Black and Caspian Sea.

Sour or Tart Cherries – Smaller in size and with a tangier or tart flavor, they are frequently used in baking, cooking, and making products such as cherry juice.

The general steps for cherry harvesting are as follows:

1. Timing – Cherry harvesting happens when the cherries are at their peak ripeness which varies depending on the type of cherry and where the orchard is located. Moreover, the harvesting season usually runs from the end of spring to the beginning of summer.

2. Hand Harvesting – They are carefully hand-picked from the trees since they are fragile and easily bruised.

3. Sorting and Grading – After harvesting, cherries go through a procedure called sorting and grading.  This involves classifying them according to factors including size, color, and quality.

4. Packaging – After being sorted, cherries are packaged and ready for delivery. They are usually placed in boxes or containers with ventilation systems to keep them fresh while in transit.

5. Transportation – Cherry shipping must happen quickly to reduce the time between harvest and market availability. Additionally, it is important to preserve their quality and ensure that customers get tasty and fresh cherries.

What are the uses of cherry?

Cherries serve as a rich source of essential nutrients including vitamin C, calcium, iron, magnesium, and potassium. Additionally, they become more popular in various food industries such as ice cream, salad dressings, drinks, and dairy products.

This indicates that there is potential for cherries to expand in the culinary arts in the future. Here are some of the industrial applications of cherries:

1. Food Processing – Cherries are widely used in the food processing industry to make numerous products such as jams, jellies, fruit preserves, and fillings for baked goods.

2. Beverage Industry – Cherry juice, cherry-flavored sodas, and cherry-based cocktails all need raw cherries as their base ingredient.

3. Pharmaceuticals and Nutraceuticals – Antioxidants and anthocyanins are two compounds found in cherries that are important to the pharmaceutical and nutraceutical sectors. Furthermore, its extracts find use in dietary supplements or functional meals.

4. Cosmetic and Skincare Products – Cherry extracts and oils are included in cosmetic and skincare products due to their potential antioxidant and moisturizing properties. They are included in lotion, cream, and lip balm formulation.

5. Alcohol – Certain alcoholic beverages such as cherry-flavored liquors and cherry-infused spirits use raw cherry in their manufacturing processes.

What is the future price of cherry?

The increased health consciousness, changing dietary preferences, and a growing interest in exotic fruits drive the demand market of cherries. Also, the market for fresh cherries increased significantly due to the rising consumption of fresh drinks like smoothies. For instance, cherry grand and cherry treat imports increased in North America due to their soft and sour flavor profiles. On top of this, these varieties are prone to weather fluctuations and storage conditions which elevate their prices.  

The demand for fresh cherries is anticipated to grow significantly, fueled by the brewing industry and the growing popularity of the Fruit-in-Beer trend. Furthermore, the increasing application of this commodity in the nutraceutical sector because of its antioxidant and vitamin C properties offers a profitable market expansion. Overall, the estimated price of cherries will be $6.57 per kilogram in 2028.