Chile’s cherry industry hit by price drop — what’s next?

Chile's cherry industry, the country's third most important export sector, is going through a difficult time. In 2024, cherry exports reached $3 billion, with China as the main buyer. However, prices in the Asian market dropped by 50%, raising concerns in the agricultural sector.

The price drop occurred despite a 55% increase in exported volume, as demand in China was lower than expected due to economic struggles. Antonio Walker, president of the National Agricultural Society, emphasized the need for action, as cherries represent nearly half of Chile’s fresh fruit exports and provide jobs for 350,000 people.

To stabilize the industry, Walker suggests three key measures: financial support from banks, a quality seal to ensure top-grade cherries, and continued promotion in China to attract new consumers. He also stresses the importance of diversifying export markets, with India and Asia Pacific as top priorities.

Despite the price drop, Walker remains optimistic, as the higher export volume offset the lower prices, keeping revenue at $3 billion. He believes cherry exports will continue but warns that prices will determine future trends. He also encourages farmers to diversify their crops, highlighting kiwis, table grapes, walnuts, hazelnuts, and apples as strong alternatives.

Currently, over 90% of Chile’s cherries go to China, making reliance on a single market risky. Expanding into India, the Middle East, North Africa, and Latin America is crucial for long-term stability. Walker also sees potential in meat, dairy, and grain exports, urging investments in irrigation, port infrastructure, and logistics to support Chile’s agricultural growth.

source: blueberriesconsulting.com

photo: globaltimes.cn