American cherry prices have fallen to a new low of VND250,000 ($10.53) per kilogram in Vietnam.
Loan in Ho Chi Minh City, who usually consumes imported fruits, said she recently bought half of last year’s American cherry prices.
Stores now sell red cherries at VND250,000-340,000 and yellow cherries, considered more premium, at VND350,000.
My Hanh, a seller in HCMC’s Tan Binh District, said she now sells a box of five kilograms for VND1.2 million, the lowest price at which she has ever sold.
“I imported 500 boxes this year, 30% more than last year. The low prices attract many customers.”
Lan Anh, another seller in Binh Thanh District, said sales are up 30% year-on-year.
She added that even low-income people could now afford the fruit, which is usually considered expensive.
Retail chains such as Co.opmart, MM Mega Market and Go! are selling it at around VND300,000 per kilogram.
Importers said it is the cherry season now in the U.S. and supply is high.
According to the USDA National Agricultural Statistics Service, output is expected to be 371,000 tons this year, up 60% from 2022.
The U.S. consulate in HCMC said American authorities are working with their partners in Vietnam to introduce high-quality American products to consumers.