Consumers cheer cherry price falls

In a surprising twist for China's fruit market this winter, imported cherries have become significantly more affordable, with prices dropping by nearly 50 percent compared to previous years due to an abundant supply.

The trend has drawn attention from both consumers and retailers during the peak gifting season ahead of Spring Festival.

According to data from the Beijing Xinfadi Wholesale Market as of Dec 31, Chilean cherries are being sold at prices ranging from 18 yuan ($2.46) to 45 yuan per jin (0.5 kg), depending on size and quality.

Beijing-based supermarket chain Wumart reported a sharp increase in cherry sales, with prices for double jumbo and triple jumbo-sized cherries down by over 30 percent compared to the start of the season, and nearly halved from last year's levels.

Chile, the dominant supplier, accounts for nearly 90 percent of China's imported cherries.

"Favorable weather conditions in Chile have resulted in a bumper harvest, and the expansion in cultivation acreage of the fruit led to an oversupply in the Chinese market. We expect prices to continue falling as more shipments arrive in the coming weeks," said Zhang Yuelin, general manager of Xinfadi.

The price slump was further triggered by the arrival of the first batch of large shipments of Chilean cherries on Dec 26 at the Port of Tianjin, according to Jiemian, a news portal in Shanghai.

The ship carried around 8,000 metric tons of cherries in 380 containers. The increased shipment volume, combined with lower transport costs, have led to a 30 percent price reduction for premium varieties such as double jumbo and triple jumbo cherries compared to early-season prices, said Jiemian.

Retailers have been quick to capitalize on the price cuts.

"With cherries becoming more affordable, they are now an attractive festive purchase, ideal for both family consumption and gift-giving," said a Wumart spokesperson. The retailer said they have also optimized their supply chain to ensure freshness and meet growing demand during the holiday period.

Membership store operator MCG, formerly known as Metro, echoed similar sentiments. The retailer has seen a notable increase in cherry sales covering all sizes, driven by lower prices. MCG reported that double jumbo cherries, typically measuring 28-30 millimeters, saw the steepest price drops.

The sharp decline in cherry prices has become a hot topic on Chinese social media. On platforms like Weibo, discussions around "Why cherry prices have dropped so sharply" have trended, reflecting consumers' growing interest in purchasing affordable cherries.

Chile's cherry harvest typically peaks between December and February, coinciding with high demand during the New Year and Spring Festival seasons, said Jason Yu, general manager of CTR Market Research.

"Traditionally regarded as a luxury item symbolizing prosperity, cherries have long been a popular choice for gifting in China," said Yu.

However, Yu said that with the ongoing price drops, cherries are becoming a more accessible treat for everyday consumption.

"The price decline reflects changing consumer habits. While cherries were once seen as a luxury fruit, consumers are now open to purchasing domestic alternatives or other affordable fruits," said Yu.

For consumers like Viviana Sun, a mother in Shanghai, the lower prices are welcome news. "My kids and I love cherries, and they're a great treat to serve guests. Now that they're cheaper, I can buy them three times a week instead of just once," she said.

Wang Jing, a mother of an 11-year-old in Beijing, said she'd wait.

"Everyone in my WeChat group has been talking about the falling cherry prices and sharing tips on where to find the best deals. I plan to buy some for Spring Festival, but I'll wait a bit longer to see if prices drop further," she said.

As more shipments are expected in January, and more domestic cherries picked in Dalian, Liaoning province, in the coming months, retailers and analysts alike predict that cherry prices will continue to decline, making this year's festive shopping season more affordable for Chinese households.