Cherry market decline, as Peruvian red grapes hit the market

A week before the Chinese New Year, traders are wrapping up their pre-holiday stockings. Although the fruit market remains active, foot traffic has decreased compared to last week.

Chilean cherry prices stabilized after several days of increases last week but began to decline midweek, with sales slowing down. For example, the price of Lapins has dropped by about 10–15%. According to traders, several factors contributed to this trend. The peak stocking period has passed, leading to reduced purchasing demand. Sales at the retail level have slowed, leaving many traders with inventory. The quality of arrivals is inconsistent, particularly among mid-to-late shipments, where some batches show insufficient firmness and more surface damage. In terms of varieties, Bing and Lapins continue to sell well, while arrivals of Regina cherries have increased.

Peruvian Red Globe grapes have entered the market, alongside a growing variety of imported grapes such as Peruvian Autumn Crisp, Red Globe, black grapes, Australian seedless red grapes, and smaller volumes of Chilean Sweet Globe and Sable. Currently, the price of Peruvian Red Globe grapes is approximately 15% lower than the same period in previous years. Traders attribute this to the low market prices of cherries, which have affected red grape prices. Peruvian Autumn Crisp grapes, which have been available for some time, have seen their prices drop by around 10% compared to earlier periods. Similarly, prices for Peruvian black grapes are lower than last year due to suboptimal quality in some shipments. Additionally, traders mentioned that the current price and sales of Australian seedless red grapes are quite satisfying.

To read the full article, please visit Cherry market decline, as Peruvian red grapes hit the market. Published on January 27, 2025.