Cherry Market - China’s Cherry Exports Surged 69% in 2014

Pome Fruits And Stone Fruits September 20, 2015
Author: Svetlana Sitkova
Head of Industrial Research Department

cherry market

With a huge surge in exports in 2014, Chile seized control of the global cherry trade. In 2014, Chile exported 85 thousand tonnes of cherries totaling 660 million USD, a whopping 69% over the previous year. Its primary trading partner on the global cherry market was China, where it supplied 73% of its total cherry exports in value terms, accounting for 90% of China's total imports.

Overall, the global trade reached 1,833 million USD, with a CAGR of 12% from 2007 to 2014. In physical terms, it showed steady growth, rising from 261 thousand tonnes in 2007 to 434 thousand tonnes in 2014.

In 2014, China held the largest share of cherry imports (32%). It was followed by Germany (8%), Canada (8%), the Republic of Korea (8%) and the Russian Federation (7%). These five leaders together made up 63% of global imports. The share of China increased significantly (+32 percentage points), while the share of Germany illustrated negative dynamics (-5 percentage points).

The U.S. and Turkey were among the other main global suppliers of cherries in 2014 with a combined share of 35% of global exports. However, the fastest growing exporters from 2007 to 2014 were Chile (+26% per year) and Australia (+21% per year). Chile more than doubled its position in the global export structure, from 15% in 2007 to 36% in 2014.

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Source: World: Cherries - Market Report. Analysis And Forecast To 2020