Bangladesh: Market for Cherries and Sour Cherries 2024

Market Size for Cherries and Sour Cherries in Bangladesh

After two years of growth, the Bangladeshi cherry and sour cherry market decreased by -98.9% to $X in 2022. Over the period under review, consumption recorded a significant contraction. As a result, consumption attained the peak level of $X, and then reduced sharply in the following year.

Production of Cherries and Sour Cherries in Bangladesh

In value terms, cherry and sour cherry production contracted slightly to $X in 2022 estimated in export price. Overall, production, however, recorded significant growth. The pace of growth was the most pronounced in 2019 when the production volume increased by 209%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

In 2022, the average cherry and sour cherry yield in Bangladesh amounted to less than X kg per ha, standing approx. at 2021 figures. Overall, the yield recorded a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of cherries and sour cherries in Bangladesh stood at less than X ha, flattening at 2021 figures. Overall, the harvested area saw a relatively flat trend pattern.

Exports of Cherries and Sour Cherries

Exports from Bangladesh

In 2022, overseas shipments of cherries and sour cherries were finally on the rise to reach X tons after two years of decline. In general, exports posted significant growth. The pace of growth appeared the most rapid in 2019 when exports increased by 312% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, cherry and sour cherry exports skyrocketed to $X in 2022. Over the period under review, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 329%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Saudi Arabia (X tons) was the main destination for cherry and sour cherry exports from Bangladesh, accounting for a approx. 100% share of total exports.

From 2018 to 2022, the average annual rate of growth in terms of volume to Saudi Arabia stood at +53.4%.

In value terms, Saudi Arabia ($X) also remains the key foreign market for cherries and sour cherries exports from Bangladesh.

From 2018 to 2022, the average annual growth rate of value to Saudi Arabia stood at +60.7%.

Export Prices by Country

In 2022, the average cherry and sour cherry export price amounted to $X per ton, falling by -38.7% against the previous year. Overall, the export price, however, saw notable growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by 42% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted remarkably in the following year.

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

From 2018 to 2022, the rate of growth in terms of prices for Saudi Arabia amounted to +4.8% per year.

Imports of Cherries and Sour Cherries

Imports into Bangladesh

In 2022, purchases abroad of cherries and sour cherries decreased by -42.6% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 271%. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, cherry and sour cherry imports declined rapidly to $X in 2022. Over the period under review, imports, however, showed a mild expansion. The pace of growth was the most pronounced in 2020 when imports increased by 374%. Imports peaked at $X in 2021, and then shrank rapidly in the following year.

Imports by Country

Australia (X tons), the United Arab Emirates (X tons) and Singapore (X kg) were the main suppliers of cherry and sour cherry imports to Bangladesh, together accounting for 94% of total imports. Thailand lagged somewhat behind, comprising a further 5.9%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +57.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) constituted the largest supplier of cherries and sour cherries to Bangladesh, comprising 87% of total imports. The second position in the ranking was taken by Singapore ($X), with an 8% share of total imports. It was followed by the United Arab Emirates, with a 3.6% share.

From 2012 to 2022, the average annual growth rate of value from Australia amounted to +22.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-12.8% per year) and the United Arab Emirates (+23.3% per year).

Import Prices by Country

In 2022, the average cherry and sour cherry import price amounted to $X per ton, which is down by -22.1% against the previous year. Over the period under review, the import price, however, posted buoyant growth. The pace of growth was the most pronounced in 2014 an increase of 297% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then dropped notably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Australia ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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