Southern Asia: Cherry Market 2024

Cherry Market Size in Southern Asia

In 2022, the South Asian cherry market increased by 5% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, recorded a perceptible decline. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Cherry Production in Southern Asia

In value terms, cherry production expanded significantly to $X in 2022 estimated in export price. Over the period under review, production faced a deep reduction. The growth pace was the most rapid in 2018 with an increase of 159%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

The country with the largest volume of cherry production was India (X tons), accounting for 81% of total volume. Moreover, cherry production in India exceeded the figures recorded by the second-largest producer, Pakistan (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in India was relatively modest.

The average cherry yield contracted slightly to X tons per ha in 2022, with a decrease of -1.6% against 2021. In general, the yield, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the yield increased by 5.8%. The level of yield peaked at X tons per ha in 2021, and then fell slightly in the following year. 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 reached X ha in 2022, approximately equating the year before. In general, the harvested area recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the harvested area increased by 5.4% against the previous year. The level of harvested area peaked at X ha in 2015; however, from 2016 to 2022, the harvested area remained at a lower figure.

Cherry Exports

Exports in Southern Asia

In 2022, overseas shipments of cherries decreased by -31.1% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by 323% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2021, and then shrank notably in the following year.

In value terms, cherry exports fell markedly to $X in 2022. Over the period under review, exports, however, posted strong growth. The most prominent rate of growth was recorded in 2018 when exports increased by 215%. The level of export peaked at $X in 2021, and then dropped dramatically in the following year.

Exports by Country

Afghanistan was the largest exporter of cherries in Southern Asia, with the volume of exports recording X tons, which was approx. 69% of total exports in 2022. Sri Lanka (X tons) took a 12% share (based on physical terms) of total exports, which put it in second place, followed by Bangladesh (9.4%) and India (6.3%). Pakistan (X tons) followed a long way behind the leaders.

Afghanistan was also the fastest-growing in terms of the cherries exports, with a CAGR of +43.5% from 2012 to 2022. At the same time, Bangladesh (+25.6%), Pakistan (+18.1%) and Sri Lanka (+5.3%) displayed positive paces of growth. By contrast, India (-20.7%) illustrated a downward trend over the same period. Afghanistan (+59 p.p.), India (+6.3 p.p.) and Bangladesh (+4.1 p.p.) significantly strengthened its position in terms of the total exports, while Sri Lanka saw its share reduced by -27% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Afghanistan ($X) remains the largest cherry supplier in Southern Asia, comprising 62% of total exports. The second position in the ranking was held by Sri Lanka ($X), with a 22% share of total exports. It was followed by Bangladesh, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Afghanistan amounted to +37.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Sri Lanka (+1.2% per year) and Bangladesh (+37.1% per year).

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, picking up by 19% against the previous year. Overall, the export price, however, saw a pronounced decrease. The pace of growth was the most pronounced in 2020 when the export price increased by 37%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+9.2%), while the other leaders experienced a decline in the export price figures.

Cherry Imports

Imports in Southern Asia

In 2022, cherry imports in Southern Asia skyrocketed to X tons, increasing by 102% compared with 2021. In general, imports showed a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 134%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, cherry imports skyrocketed to $X in 2022. Overall, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 217%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

India prevails in imports structure, recording X tons, which was approx. 95% of total imports in 2022. The following importers - Nepal (X tons) and Afghanistan (X tons) - each reached a 4.5% share of total imports.

Imports into India increased at an average annual rate of +41.1% from 2012 to 2022. At the same time, Nepal (+44.9%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +44.9% from 2012-2022. By contrast, Afghanistan (-1.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India increased by +95 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported cherries in Southern Asia, comprising 96% of total imports. The second position in the ranking was held by Nepal ($X), with a 1.8% share of total imports.

In India, cherry imports increased at an average annual rate of +54.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Nepal (+48.7% per year) and Afghanistan (+12.4% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, falling by -6.6% against the previous year. Overall, the import price, however, showed resilient growth. The growth pace was the most rapid in 2017 an increase of 98%. Over the period under review, import prices attained the peak figure at $X per ton in 2021, and then declined in the following year.

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 India ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Afghanistan (+13.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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