Market Update for Stone Fruit

Chile is still projecting to pack more than 115 million total 5 kilo boxes and more than 90% of that fruit has been exported to China. Gifting cherries for the New Year has been become a cultural phenomenon in China and the market has been able to absorb the huge increase in volumes year after year. The New Year falls on February 29^th, so imports have been peaking over the last 10 days, with continued pressure for another two weeks. Unfortunately for Chilean growers, the China market has not held and there are fears that pricing will fall well below profitable levels. Late season southern growers will now look to other global markets, as fears of bad pricing in China settle in. The late Regina crop estimate has been lowered by more than 20%, but the U.S. could still be a good option for growers looking to hedge their risk. Currently, jumbo cherries are trading between $28.00 and $32.00 for good quality fruit. There has been a wide range in quality though, mostly due to delays in transit. Importers will be looking to take pricing higher in February, but they need to keep retailers engaged.

Stone Fruit

Importers have been receiving steady volumes of high-quality yellow nectarines from Chile. This fruit has full color and high brix, but it’s hard to get consumers excited about summer fruit when half the country is dealing with severe winter weather. Sizing has been small, so there are deals on 60 and 70 series VF and 56 sz tray packs. Premium 48 and lgr are trading between $26.00 and $28.00 FOB. Peach volumes have been light, but volumes will increase week by week. Peach pricing currently ranges from $28.00 to $30.00 for premium 48 and lgr and $24.00 to $26.00 for quality VF packs.