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.
UNPRECEDENTED PACE: Micron Technology has announced plans to expand manufacturing capabilities with the acquisition of a new chip plant in Miaoli Micron Technology Inc unveiled a newly acquired chip plant in Miaoli County yesterday, as the company expands capacity to meet growing demand for advanced DRAM chips, including high-bandwidth memory chips amid the artificial intelligence boom. The plant in Miaoli County’s Tongluo Township (銅鑼), which Micron acquired from Powerchip Semiconductor Manufacturing Corp (力積電) for US$1.8 billion, is expected to make a sizeable capacity contribution to the company from fiscal 2028, the company said in a statement. It would be an extended production site of Micron’s large-scale manufacturing hub in Taichung, the company said. As the global semiconductor industry is racing to reach US$1 trillion
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
Taiwan’s food delivery market could undergo a major shift if Singapore-based Grab Holdings Ltd completes its planned acquisition of Delivery Hero SE’s Foodpanda business in Taiwan, industry experts said. Grab on Monday last week announced it would acquire Foodpanda’s Taiwan operations for US$600 million. The deal is expected to be finalized in the second half of this year, with Grab aiming to complete user migration to its platform by the first half of next year. A duopoly between Uber Eats and Foodpanda dominates Taiwan’s delivery market, a structure that has remained intact since the Fair Trade Commission (FTC) blocked Uber Technologies Inc’s
Memory chip stocks extended their losses yesterday after Alphabet Inc’s Google publicized research that could allow more efficient use of the storage needed for artificial intelligence (AI) development. SK Hynix Inc and Samsung Electronics Co, South Korean leaders in the market, fell more than 6 percent and about 5 percent respectively in Seoul. In the US, Micron Technology Inc, Western Digital Corp and Sandisk Corp slid more than 2 percent in pre-market trading, after they all closed lower on Wednesday. Memory companies have been on a tear in recent months as the rapid development of AI infrastructure triggered a spike in chip