Weekly Product Updates

W32: Cherry Update

Fresh Sweet Cherry
Poland
Published Aug 18, 2023
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In W32 in the cherry landscape, Moldova's cherry exports to the European Union (EU) surged to 2.6 thousand metric tons (mt) so far in 2023, a remarkable 12.5-fold increase compared to 208 mt in 2022. Overall, Moldovan cherry exports amounted to over 16 thousand mt, valued at over USD 22 million in 2023. This export surge is attributed to Moldova’s entry into various EU markets, including Spain, Italy, Belgium, the Netherlands, and the United Kingdom (UK). This successful expansion is attributed to favorable market conditions in 2023, marked by reduced production in major cherry competitors such as Greece, Spain, and Italy. This created a gap in the cherry market and provided Moldovan cherry producers with a unique opportunity to meet the heightened demand for cherries across the EU.

The 2023 German cherry season passed its peak in W32, characterized by constrained deliveries and limited sales opportunities. While the domestic Kordia and Regina cherries were prominent in the market, their availability was less frequent. Despite this, demand generally could be met without significant challenges. Inconsistencies in taste profiles led to a broad price range in some areas. However, overall cherry prices tended to exhibit an upward trajectory with infrequent reductions. Turkish cherries experienced both a decline in price and quality, leading to insufficient demand at times and occasional surplus. Shipments from Belgium, Poland, the Netherlands, and Greece remained marginalized due to limited demand and subpar quality, often resulting in price reductions. Frankfurt registered the introduction of the appealing domestic KIR Lamour and Gelbe Knorpelkirsche from Dönissen, the latter offered at USD 4.37/kilogram (kg). Additionally, Canadian cherries entered the market, priced at up to USD 81.87/5kg crate for size 32/34 millimeters (mm).

Lastly, the cherry harvest conclusion led to decreased purchase prices in Poland despite the significant supply decrease. Pressing cherry prices decreased from USD 0.49/kg to USD 0.44/kg. This price reduction is attributed to decreased quality stemming from heavy weekend rainfall. The recent cherry batches contain more water, reducing their efficiency in the pressing process. Also, the accelerated growth due to the rain led to lower Brix degrees. Frozen cherry deliveries were minimal in W32, as some processing plants and purchasing firms had already wrapped up the 2023 season. The cherry farm-gate purchase prices remained steady at USD 0.61/kg.

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