More than 90% of Chilean cherries are sold to China, will this affect market diversification?

Published Jun 6, 2024

Tridge summary

Gonzalo Salinas, a senior analyst at Rabobank, has highlighted that over 90% of Chile's cherry exports being sold to the Chinese market is not harmful due to the large market size, high prices, and efficient logistics. He anticipates continued growth in Chinese demand for cherries in the next five seasons, despite the risk of export concentration. Antonio Walker, President of the Chilean National Agricultural Association (SNA), and Iván Marambio, president of the Chilean Fruit Association (Frutas de Chile), stress the importance of export diversification while also maintaining the relationship with the Chinese market. Marambio reveals a promotion strategy to penetrate other markets like the United States, South Korea, Vietnam, Thailand, and India, aiming to balance high-price Chinese sales with expanding demand in other regions.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Chilean website "Litoralpress" reported that Gonzalo Salinas, a senior analyst at Rabobank, believes that there is no harm in the fact that more than 90% of Chile's cherry exports are sold to the Chinese market. The Chinese market is large, the price is high, and the logistics are good. It is expected that the demand for cherries in the market will continue to grow in the next five seasons. Salinas added, "China is the main export market for Chilean cherries and plays a vital role. But this does not mean that the export volume of cherries to other markets will stop growing in the next few seasons. There are risks when the export concentration exceeds 90%, but the Chinese market pays the highest price, so it is regarded as an excellent business opportunity. In the past five seasons, Chile accounted for 95% of the cherry exports in the southern hemisphere and will not be threatened by competitors such as Argentina, Australia, New Zealand and South Africa in the short term. As long ...

Source: Foodmate