New Zealand: Cherry Market 2024

Cherry Market Size in New Zealand

The New Zealand cherry market surged to $X in 2022, picking up by 4,771% against the previous year. Overall, consumption enjoyed a significant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Cherry Production in New Zealand

In value terms, cherry production reached $X in 2022 estimated in export price. Over the period under review, production posted a buoyant expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 46% against the previous year. Cherry production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

The average yield of cherries in New Zealand surged to X tons per ha in 2022, jumping by 2,193% against the year before. Overall, the yield showed a significant increase. As a result, the yield reached the peak level and is likely to continue growth in the immediate term. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The cherry harvested area in New Zealand amounted to X ha in 2022, almost unchanged from the previous year. Over the period under review, the total harvested area indicated buoyant growth from 2012 to 2022: its figure increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cherry harvested area decreased by -8.2% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the harvested area increased by 54% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2019 to 2022, the growth of the cherry harvested area remained at a lower figure.

Cherry Exports

Exports from New Zealand

After four years of decline, shipments abroad of cherries increased by 225% to X tons in 2022. Over the period under review, exports posted a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, cherry exports soared to $X in 2022. Overall, exports continue to indicate a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for cherry exports from New Zealand, accounting for a 44% share of total exports. Moreover, cherry exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, China (X tons), twofold. Vietnam (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to Taiwan (Chinese) totaled +16.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+54.6% per year) and Vietnam (+44.4% per year).

In value terms, Taiwan (Chinese) ($X) remains the key foreign market for cherries exports from New Zealand, comprising 48% of total exports. The second position in the ranking was held by China ($X), with a 20% share of total exports. It was followed by Vietnam, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Taiwan (Chinese) amounted to +21.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+58.9% per year) and Vietnam (+45.8% per year).

Export Prices by Country

The average cherry export price stood at $X per ton in 2022, shrinking by -8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.2%. The most prominent rate of growth was recorded in 2019 an increase of 17% against the previous year. The export price peaked at $X per ton in 2021, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.

Cherry Imports

Imports into New Zealand

In 2022, the amount of cherries imported into New Zealand fell dramatically to X tons, shrinking by -82.2% compared with 2021. Over the period under review, imports continue to indicate a precipitous contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 58%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, cherry imports dropped significantly to $X in 2022. Overall, imports continue to indicate a deep downturn. The pace of growth was the most pronounced in 2021 with an increase of 58% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) was the main supplier of cherry to New Zealand, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to -23.4%.

In value terms, the United States ($X) constituted the largest supplier of cherries to New Zealand.

From 2012 to 2022, the average annual growth rate of value from the United States totaled -17.2%.

Import Prices by Country

In 2022, the average cherry import price amounted to $X per ton, picking up by 35% against the previous year. Overall, the import price recorded a prominent expansion. The most prominent rate of growth was recorded in 2020 an increase of 40% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +8.2% per year.

Source: IndexBox Platform

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