During the Chinese New Year, cherries are one of the most popular products. This year, imported cherries have become the most popular product for this period in the country, overtaking another popular fruit: tangerines.

Guangzhou and Shanghai, located in the south and east of China respectively, are the main distribution centers for imported cherries, specifically the Jiangnan Market which is known as the largest cherry trading market in China. 

Overview of the season

On Jan. 10, the market released a new price index showing that the fruit trading season has entered its peak period. During the first week of January, the average daily trading volume of imported cherries in Guangzhou Jiangnan Market was nearly 1 million kilograms, and the average transaction price was $9.60/kg.

Chilean cherries have had a good harvest this year. The Chilean Fruit Exporters Association (ASOEX) latest forecast pegged exports this year at 80 million boxes (around 400,000 tons), around 12% higher than last year. 

The market price will likely drop after New Year's Day, with the arrival of a large number of seaborne cherries. 

The price of cherries is very volatile and changes every day. With the same money, you bought "JJJJ" one day, and the next day you can only buy the downgrade which is "JJJ". 

Price per box 

The price of cherries packed in 2.5kg gift boxes has skyrocketed. On Jan. 12 alone, the average wholesale price per box of cherries from each variety increased by $2.90 to $4.42 compared to the previous day. 

However, the price of 5kg boxes has dropped slightly. 

Gift boxes and small packages are the most popular in the market. During the upcoming Spring Festival, consumers visit relatives and friends, and the demand for gifts soars. 

The supply of cherries has been inconsistent, with different sizes and freshness. While high-quality fruit is always easy to sell, the supply of cherries has been inconsistent, with different sizes and freshness. 

Ending Covid-19 restrictions

The end of China's most severe Covid-19 prevention policies this year can have a major impact on the market.

Epidemic prevention and control measures have been reduced, resuming customs clearance at ports across the country, and allowing a smooth import of Chilean cherries to China.

On Jan. 11, the first shipment of Chilean cherries arrived at Dalian Port in northern China aboard the cargo ship "Maersk Tinos". This gave way to the direct route between the Dalian Port and South America, which greatly facilitates the import of cherries into northern China. 

A new route that allows Chilean cherries to arrive through Dalian Port has reduced transport time by up to 20 hours, guaranteeing better quality of the fruit upon arrival.

E-commerce in the cherry industry

E-commerce has developed rapidly in China, especially during the pandemic, more and more Chinese consumers prefer to stay at home and buy fruits online.

Dingdong Maicai signed an agreement with Garces Fruit, a Chilean cherry exporter, and IVCSUN, a supply chain company. 

Another company, Pinduoduo Inc reached strategic cooperation with the Chilean Cherry Committee, and to promote the industry, they increased sales by about 300%.

JD.com indicated that the sales of cherries increased by about 30% year-on-year with promotion campaigns.

How is the market today?

Overall, compared to last year's unstable market, the price of cherries this year has fluctuated between $2.90 and $4.42 and is relatively stable. Overall, business is better.

Predictions say that the price of cherries will decline after Chinese New Year due to the sharp drop in demand for gifts from Chinese consumers.