Latin America and the Caribbean: Market for Cherries and Sour Cherries 2024

Market Size for Cherries and Sour Cherries in Latin America and the Caribbean

In 2022, the Latin American cherry and sour cherry market decreased by X% to $X, falling for the third consecutive year after five years of growth. The total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Cherries and Sour Cherries in Latin America and the Caribbean

In value terms, cherry and sour cherry production dropped to $X in 2022 estimated in export price. Overall, production showed resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Chile (X tons) remains the largest cherry and sour cherry producing country in Latin America and the Caribbean, accounting for X% of total volume. It was followed by Argentina (X tons), with a X% share of total production.

In Chile, cherry and sour cherry production increased at an average annual rate of X% over the period from 2012-2022.

The average cherry and sour cherry yield skyrocketed to X tons per ha in 2022, rising by X% compared with 2021 figures. The yield indicated a resilient increase from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cherry and sour cherry yield increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The level of yield peaked in 2022 and is expected to retain growth in the near future. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the cherry and sour cherry harvested area in Latin America and the Caribbean reached X ha, leveling off at the year before. In general, the harvested area showed a buoyant increase. The pace of growth appeared the most rapid in 2019 when the harvested area increased by X%. The level of harvested area peaked at X ha in 2020; however, from 2021 to 2022, the harvested area remained at a lower figure.

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Exports of Cherries and Sour Cherries

Exports in Latin America and the Caribbean

For the fifth consecutive year, LatAmerica and the Caribbean recorded growth in overseas shipments of cherries and sour cherries, which increased by X% to X tons in 2022. In general, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, cherry and sour cherry exports skyrocketed to $X in 2022. Over the period under review, exports showed a buoyant expansion. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The biggest shipments were from Chile (X tons), together finishing at X% of total export.

Chile was also the fastest-growing in terms of the cherries and sour cherries exports, with a CAGR of X% from 2012 to 2022. Chile (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) also remains the largest cherry and sour cherry supplier in Latin America and the Caribbean.

In Chile, cherry and sour cherry exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price, however, recorded a mild decrease. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Chile.

From 2012 to 2022, the rate of growth in terms of prices for Chile amounted to X% per year.

Imports of Cherries and Sour Cherries

Imports in Latin America and the Caribbean

Cherry and sour cherry imports fell dramatically to X tons in 2022, dropping by X% on 2021. In general, imports, however, showed temperate growth. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of X tons, and then fell significantly in the following year.

In value terms, cherry and sour cherry imports shrank to $X in 2022. Total imports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The level of import peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, Brazil (X tons) and Ecuador (X tons) were the major importers of cherries and sour cherries in Latin America and the Caribbean, together achieving X% of total imports. It was distantly followed by Mexico (X tons), comprising a X% share of total imports. Peru (X tons), Argentina (X tons), Trinidad and Tobago (X tons) and Colombia (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Trinidad and Tobago (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constitutes the largest market for imported cherries and sour cherries in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Mexico ($X), with an X% share of total imports. It was followed by Ecuador, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil stood at X%. In the other countries, the average annual rates were as follows: Mexico (X% per year) and Ecuador (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the import price, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Colombia ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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