Latin America and the Caribbean: Sour Cherry Market 2025

Sour Cherry Market Size in Latin America and the Caribbean

In 2022, the Latin American sour cherry market was finally on the rise to reach $X after seven years of decline. Over the period under review, consumption, however, continues to indicate a pronounced downturn. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Sour Cherry Production in Latin America and the Caribbean

In value terms, sour cherry production fell modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 24% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

The country with the largest volume of sour cherry production was Peru (X tons), comprising approx. 53% of total volume. Moreover, sour cherry production in Peru exceeded the figures recorded by the second-largest producer, Chile (X tons), twofold. The third position in this ranking was taken by Argentina (X tons), with an 18% share.

From 2012 to 2022, the average annual growth rate of volume in Peru was relatively modest. In the other countries, the average annual rates were as follows: Chile (-7.5% per year) and Argentina (+0.7% per year).

In 2022, the average yield of sour cherries in Latin America and the Caribbean contracted remarkably to X tons per ha, reducing by -25.8% against the year before. Overall, the yield showed a slight shrinkage. The growth pace was the most rapid in 2021 with an increase of 38%. The level of yield peaked at X tons per ha in 2015; however, from 2016 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the sour cherry harvested area in Latin America and the Caribbean stood at X ha, growing by 10% compared with 2021 figures. In general, the harvested area, however, saw a slight curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 12% against the previous year. Over the period under review, the harvested area dedicated to sour cherry production reached the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Sour Cherry Exports

Exports in Latin America and the Caribbean

After five years of growth, overseas shipments of sour cherries decreased by -54.3% to X tons in 2022. Overall, exports showed a abrupt downturn. The pace of growth was the most pronounced in 2015 with an increase of 413%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, sour cherry exports contracted sharply to $X in 2022. Over the period under review, exports recorded a abrupt slump. The growth pace was the most rapid in 2015 when exports increased by 78%. The level of export peaked at $X in 2021, and then declined notably in the following year.

Exports by Country

Chile dominates exports structure, reaching X tons, which was near 97% of total exports in 2022. Argentina (X tons) took a minor share of total exports.

Chile was also the fastest-growing in terms of the sour cherries exports, with a CAGR of -4.5% from 2012 to 2022. Argentina (-24.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Chile increased by +15 percentage points.

In value terms, Chile ($X) remains the largest sour cherry supplier in Latin America and the Caribbean, comprising 99% of total exports. The second position in the ranking was taken by Argentina ($X), with a 0.2% share of total exports.

In Chile, sour cherry exports contracted by an average annual rate of -3.6% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, increasing by 6.9% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 229%. Over the period under review, the export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Chile ($X per ton), while Argentina totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+1.0%).

Sour Cherry Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of sour cherries was finally on the rise to reach X tons after two years of decline. Overall, imports, however, showed a noticeable descent. The pace of growth appeared the most rapid in 2018 with an increase of 313% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, sour cherry imports expanded rapidly to $X in 2022. In general, imports, however, recorded a pronounced contraction. The pace of growth appeared the most rapid in 2018 when imports increased by 359%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Mexico dominates imports structure, accounting for X tons, which was approx. 58% of total imports in 2022. Trinidad and Tobago (X tons) held an 8.5% share (based on physical terms) of total imports, which put it in second place, followed by Ecuador (7.3%) and Argentina (5.1%). Panama (X tons), Guyana (X tons), Guatemala (X tons), Peru (X tons) and Barbados (X tons) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to sour cherry imports into Mexico stood at -2.7%. At the same time, Barbados (+209.0%), Guyana (+113.0%), Trinidad and Tobago (+53.9%), Guatemala (+32.6%), Panama (+25.8%), Argentina (+3.7%) and Ecuador (+3.4%) displayed positive paces of growth. Moreover, Barbados emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +209.0% from 2012-2022. By contrast, Peru (-13.1%) illustrated a downward trend over the same period. While the share of Mexico (+8.8 p.p.), Trinidad and Tobago (+8.4 p.p.), Ecuador (+3.9 p.p.), Panama (+3.7 p.p.), Guyana (+3.6 p.p.), Guatemala (+2.9 p.p.), Argentina (+2.8 p.p.) and Barbados (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Peru (-4.7 p.p.) displayed negative dynamics.

In value terms, Mexico ($X) constitutes the largest market for imported sour cherries in Latin America and the Caribbean, comprising 45% of total imports. The second position in the ranking was taken by Trinidad and Tobago ($X), with a 20% share of total imports. It was followed by Panama, with a 7.9% share.

From 2012 to 2022, the average annual growth rate of value in Mexico stood at -3.7%. In the other countries, the average annual rates were as follows: Trinidad and Tobago (+57.1% per year) and Panama (+56.8% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, which is down by -22.6% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 36%. As a result, import price reached the peak level of $X per ton, and then reduced notably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Barbados (+35.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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