With the successful conclusion of the 2024 Cherry Conference in Jiaxing, the 2024–2025 production season for Chilean cherries has officially commenced. Traffic in the Jiaxing fruit market, including both domestic and imported trading areas, has seen a significant uptick. During the week of December 17–23, when sea-freight cherries became available in large quantities, market activity surged. Traffic volume increased by nearly 15% compared to the previous week (December 10–16), when sea-freight cherries had just started arriving. The trading volume of cherries rose by an impressive 108.5% week-on-week, with an average price of ¥88.7 per kg, marking an 18.3% month-on-month decrease.
This trend continued into the following week (December 24–30), as the trading volume of cherries increased by another 53.71% compared to the prior week. However, the average price dropped further to ¥79.07 per kg, reflecting a 10.87% month-on-month decline.
Currently, the overall stock of cherries in the market continues to grow, leading to further price declines. This trend can be attributed to two key factors: a record-breaking harvest in Chile, where cherry production has increased by over 40%, and the disruptive impact of e-commerce platforms. These platforms attract significant consumer traffic by offering extremely low prices, which, while not necessarily undercutting first- and second-level wholesale markets, are substantially cheaper than those of ordinary retailers. As a result, small and medium-sized retailers have suffered significant losses, with indirect effects rippling through the wholesale market.
From the perspective of market sales, despite the price decline, high-quality and branded fruits remain in strong demand. Conversely, many e-commerce platforms prioritize smaller and lower-grade fruits, as buyers increasingly opt for low-cost cherries to use for promotions or traffic generation. This has resulted in sluggish sales for medium-sized fruits, posing challenges for business operators.
The Chilean Fruit Exporters Association has also upgraded its promotional efforts this year. However, due to the overall economic slowdown, the pace of market sales has decelerated significantly compared to previous years. According to statistics, from December 10 to December 30, the transaction volume of cherries in the Jiaxing Fruit Market increased by 170.45% year-on-year. However, the average price fell to ¥95.47 per kg, representing a 23.07% year-on-year decrease. Despite the lower prices, downstream market purchasing power remains insufficient, leaving room for further price reductions. This year, achieving "cherry freedom" may finally be within reach for many consumers.
Source: Jiaxing fruit market