Chinese consumers' fervor for cherries remains high, peaking in the lead-up to 2024's Chinese New Year. Despite local cherry-producing regions like Dalian in Liaoning province and Yantai in Shandong province, the short shelf life and transport difficulties mean local supply primarily stays local. Most high-end cherries on the market are imported from Chile.
Chilean cherries are graded by fruit diameter into categories such as L, XL, J, 2J, 3J, and 4J. Larger sizes command higher grades and prices. The top-tier 4J grade, with a diameter exceeding 30 millimeters, is the priciest.
Beijing's primary food supply market, Xinfadi, provides authoritative cherry price data. Xinfadi vendors confirm that cherry prices have dropped significantly since early November. Xinfadi's official website data indicates that on October 31, 2023, Chilean cherries cost 200 yuan ($27.79) per half kilogram. The price fell steadily, averaging 120 yuan ($16.67) per half kilogram on November 10, dropping to 65 yuan ($9.03) per half kilogram on December 10, and then further down.
The key factors driving this price drop are ample market supply due to continued cherry imports and increased competition among E-commerce platforms. During the winter fruit sales peak season, these platforms engage in price wars and promotions to attract customers, offering discounts to boost sales, which further drives down cherry prices.
Source: en.people.cn