Southern Asia: Sour Cherry Market 2024

Sour Cherry Market Size in Southern Asia

The South Asian sour cherry market plummeted to $X in 2022, which is down by -55.1% against the previous year. Over the period under review, consumption, however, saw a tangible expansion. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Sour Cherry Production in Southern Asia

In value terms, sour cherry production reduced modestly to $X in 2022 estimated in export price. Overall, production, however, saw a perceptible curtailment. The pace of growth appeared the most rapid in 2017 when the production volume increased by 41% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Afghanistan (X tons) remains the largest sour cherry producing country in Southern Asia, accounting for 93% of total volume. Moreover, sour cherry production in Afghanistan exceeded the figures recorded by the second-largest producer, Pakistan (X tons), more than tenfold.

In Afghanistan, sour cherry production expanded at an average annual rate of +2.3% over the period from 2012-2022.

Sour Cherry Exports

Exports in Southern Asia

In 2022, after four years of growth, there was significant decline in overseas shipments of sour cherries, when their volume decreased by -23.9% to X tons. Overall, exports, however, recorded significant growth. The pace of growth appeared the most rapid in 2016 when exports increased by 3,827%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, sour cherry exports fell dramatically to $X in 2022. Over the period under review, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 1,767%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Afghanistan dominates exports structure, accounting for X tons, which was approx. 90% of total exports in 2022. It was distantly followed by Pakistan (X tons), comprising a 7.4% share of total exports. Sri Lanka (X tons) followed a long way behind the leaders.

Afghanistan was also the fastest-growing in terms of the sour cherries exports, with a CAGR of +54.5% from 2012 to 2022. At the same time, Pakistan (+49.5%) and Sri Lanka (+17.1%) displayed positive paces of growth. Afghanistan (+23 p.p.) significantly strengthened its position in terms of the total exports, while Sri Lanka saw its share reduced by -23.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Afghanistan ($X) remains the largest sour cherry supplier in Southern Asia, comprising 80% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 15% share of total exports.

In Afghanistan, sour cherry exports expanded at an average annual rate of +39.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Pakistan (+47.6% per year) and Sri Lanka (+15.8% per year).

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, surging by 2.2% against the previous year. In general, the export price, however, showed a deep downturn. The growth pace was the most rapid in 2017 when the export price increased by 82%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (-1.1%), while the other leaders experienced a decline in the export price figures.

Sour Cherry Imports

Imports in Southern Asia

Sour cherry imports shrank markedly to X tons in 2022, with a decrease of -56.9% compared with the previous year's figure. Overall, imports, however, enjoyed prominent growth. The pace of growth was the most pronounced in 2013 with an increase of 375%. The volume of import peaked at X tons in 2021, and then declined markedly in the following year.

In value terms, sour cherry imports shrank rapidly to $X in 2022. Over the period under review, imports, however, posted significant growth. The pace of growth was the most pronounced in 2013 with an increase of 1,028%. Over the period under review, imports attained the peak figure at $X in 2021, and then reduced sharply in the following year.

Imports by Country

Afghanistan (X tons) and Maldives (X tons) dominates imports structure, together constituting 90% of total imports. It was distantly followed by Sri Lanka (X tons), making up a 5.6% share of total imports. India (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Afghanistan (with a CAGR of +85.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Maldives ($X) constitutes the largest market for imported sour cherries in Southern Asia, comprising 79% of total imports. The second position in the ranking was taken by Afghanistan ($X), with a 13% share of total imports. It was followed by India, with a 5.8% share.

In Maldives, sour cherry imports increased at an average annual rate of +24.4% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Afghanistan (+51.5% per year) and India (-26.5% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, waning by -27.2% against the previous year. Overall, the import price, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2019 an increase of 248%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Maldives ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Maldives (+8.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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