Agronometrics in Charts: First prices of Chilean cherries in the US market

In this installment of the 'Agronometrics In Charts' series, Valeria Concha studies the state of the US cherry market. Each week the series looks at a different horticultural product, focusing on a specific origin or theme and visualizing the market factors that are driving change.

According to PASO (Office of Agrarian Studies and Policies of Chile) between November 8 and 15, 10 tons of Cherries were shipped from Chile to the United States. These volumes, according to information from the USDA , were sent by air arriving at the Miami airport. It is typical for air shipments to precede most of the season in hopes of garnering higher prices early in the year before the industry shifts to ships later in the season. Air shipments of Chilean cherries from last season represented 23% of the total volume.

Source: USDA Market News via Agronometrics. (Agronometrics users can view this chart with live updates here).

The volume shipped to the United States represents only 7% of Chile's shipments since cherry exports began in October. The largest volume (88%) was shipped to China (including Hong Kong). 

Earlier this week (November 14) the first prices of Chilean cherries were recorded in the US market, averaging $12,10 per kilo and were recorded almost two weeks earlier than last season. The almost zero supply of cherries in the US market allowed opening prices of almost $2 per kilo higher than those registered at the beginning of the 2021 season. Currently, movement is expected to increase, while trading is very active.

Source: USDA Market News via Agronometrics. (Agronometrics users can view this chart with live updates here)

During the closing of week 45, rains were recorded in Chile, from Valparaíso to the Los Lagos region, which damaged some crops in production, including cherries. According to  Iván Marambio, president of the Chilean Fruit Exporters Association (ASOEX), and Jorge Valenzuela, president of the National Federation of Fruit Producers (Fedefruta), the damage recorded so far is limited.

According to Valenzuela, the preliminary estimates of damage in the affected orchards do not exceed 10% of the early varieties.

Regarding official data and damage estimates, both the ASOEX Cherry Committee and Blueberry Committee will release figures in the coming days. At the same time, Fedefruta is working on a survey of producers on crop damage. 

For more information on the state of the cherry and blueberry industry in Chile, attend the April 13 XXV International Seminar Blueberries Consulting Chile 2023, which will be held at the Monticello Conference Center. At the event, each crop will have an exclusive room where, simultaneously, prominent speakers will present on the most important advances, challenges and innovations in each industry. In addition, producers and businessmen will be able to network in the commercial room, where suppliers from both industries will offer their services and products to the attendees.

In our 'In Charts' series, we work to tell some of the stories that are moving the industry. Feel free to take a look at the other articles by doing click here.

All US domestic farm product prices represent the cash market at the point of shipment (ie, packing house/climate-controlled warehouse, etc.). For imported fruit, price data represents the spot market at the port of entry.

You can track the markets daily through Agronometrics, a data visualization tool created to help the industry make sense of the massive amounts of data professionals need to access to make informed decisions. If you found the information and graphics in this article helpful, please feel free to visit us at www.agronometrics.com , where you can easily access these same charts, or explore the other 21 commodities we currently track.

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