Chile notched a second disappointing season of cherry sales in China after exporting too much fruit too far ahead of the Lunar New Year holiday, when consumption traditionally peaks.
Weather conditions brought Chile’s harvest forward by about 10 days, concentrating a larger volume of fruit in the early weeks of shipments, the cherry committee of trade association Frutas de Chile said in a preliminary assessment on Monday.
At the same time, a later Lunar New Year pushed demand further out into the sales season. The group did not release revenue data.
Photo: Bloomberg
“With the Lunar New Year falling so late, the fruit arrived early and it cannot be stored for long,” said Victor Catan, president of producers’ association Fedefruta, adding that there were also different strategies for segregating and packing the fruit that weighed on the results.
In addition, Catan said the industry is “seeing a deterioration in the purchasing power of Chinese consumers, and that logically affects cherry purchases.”
In the previous 2024-2025 season, a record cherry crop flooded the Chinese market ahead of the holiday, pressuring prices and heightening scrutiny over quality, leaving the industry on edge this season.
Cherries are a vital part of Chile’s economy. What was once a niche crop has become one of the country’s most valuable exports, generating more revenue in 2024 than lithium. The vast majority of shipments head to China, where the fruit is highly prized for Lunar New Year celebrations.
According to the cherry committee’s preliminary assessment, China continued to dominate as the primary destination in 2025-2026, but its share of the exports declined to 87 percent from 92 percent in the previous season.
The committee described the lower share as progress in its strategy to diversify into other markets, which include the US.
“The final product was generally good, in good condition and with good flavor. That was because growers took into account the recommendations made during the winter and early spring,” Catan said. “Volumes were in line with projections, but that also reflects the fact that fruit was packed that, in my view, should not have been packed because it was not commercially attractive.”
Shipments reached 113.8 million boxes, slightly above the initial projection of 110 million, according to the committee. Final consolidated results are to be released at the formal close of the season early next month.
“There are producers who will have good returns, acceptable returns, and others who will have results that are significantly affected,” Catan said. “This is due to the quality of the fruit, the timing of its arrival and the commercial strategies adopted.”
The industry is entering a “period of adjustment,” the committee said, emphasizing that coordination and joint efforts will be essential to sustaining competitiveness.
Catan said projections for next season are among his biggest concerns, as a significant number of new orchards are expected to come into production if conditions are normal.
“We already know the market has a ceiling, so we need to clearly define the commercial strategies to adopt and the markets we should target,” he said.
After several years flying high as Asia’s best Nvidia Corp proxy, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is increasingly vying with other artificial intelligence (AI) stocks for investor attention. Stock traders are chasing a wider array of beneficiaries as mainstream usage of AI creates demand for hardware beyond the most-advanced chips TSMC makes for Nvidia. Subthemes from the deepening memory crunch to advances in robotics are also luring bids. At the same time, investment caps on single stocks are pushing funds to diversify, while retail investors long familiar with TSMC through its US depositary receipts are being offered a broader set of
UNDER MICROSCOPE: Taiwan detained three people who allegedly conspired to buy servers in Taiwan and export them using fraudulent documentation, prosecutors said Nvidia Corp chief executive officer Jensen Huang (黃仁勳) on Saturday urged Super Micro Computer Inc to tighten up on compliance after Taiwan detained three people this week for allegedly making fraudulent declarations about artificial intelligence (AI) servers made by its US partner. The development marked the nation’s first crackdown on semiconductor smuggling, which grew after the US slapped restrictions on exports of high-end chips such as Nvidia AI accelerators to China. Nvidia is “rigorous” in explaining regulations to all of its partners, Huang told reporters after arriving in Taipei. “Ultimately Super Micro has to run their own company,” he said in response to
Netherlands-based semiconductor equipment supplier ASML Holding NV yesterday said that it is planning to hire an additional 1,000 people in Taiwan this year in response to growing demand from clients. ASML had previously planned to recruit 600 people this year, but that the plan has been adjusted upward, ASML vice president and ASML Taiwan general manager Grace Wang (汪佳慧) told reporters. ASML has a workforce of more than 4,500 in Taiwan, accounting for about 10 percent of its global total, Wang said. This year’s recruitment campaign would focus on adding people in the customer support, manufacturing and supply chain domains to assist ASML
TECH RELIANCE: Growth is increasingly reflecting an unequal K-shaped distribution, where technology sectors outperform and other industries struggle, an expert said Standard Chartered Bank has significantly raised its forecast for Taiwan’s economic growth to 9.5 percent this year, up from 7.6 percent previously, citing surging artificial intelligence (AI) demand driving exports, semiconductor production and investment. The upgrade reflects a sustained AI supercycle that continues to fuel demand for advanced chips and technology infrastructure, which form the backbone of Taiwan’s exports, the bank said in a report this week. “We raise our 2026 growth forecast to reflect a much stronger-than-expected first-quarter GDP figure,” Standard Chartered senior economist for greater China and Asia Tommy Wu (胡東安) said in the report. Driven largely by a 35.3 percent