The prices of cherries have experienced a significant drop of 50% as importers ramped up their supply in response to the previous year’s shortages. However, they soon discovered that demand had not notably increased. Importers from Australia, New Zealand, and the U.S. are now selling large cherries for approximately VND900,000 ($34.27) per kilogram, a sharp contrast from the VND2 million price tag from the previous year.
One fruit vendor in HCMC, known as Hoa, noted that U.S. cherries were in high demand last year, which led her to purchase more for this year. However, sales have not been as brisk as expected. She stated, “Supply has increased but demand has yet to match it, forcing sellers to reduce prices.”
This noticeable drop in prices is also reflected in retail chains such as MM Mega Market and Go! Here, the cost of Australian cherries has dipped to VND250,000-400,000 per kilogram from VND500,000 last year, despite the fact that they were constantly sold out.
Nguyen Thi Hang, another fruit vendor in HCMC, revealed that the market this year is highly competitive due to an influx in imports, particularly of cherries, apples, kiwifruits, and grapes.
Last year, Vietnam imported fruits and vegetables worth $3 billion, which is an increase of 24% from 2024. Globally, the supply of cherries has also seen a general rise. For example, in Chile, the largest cherry exporter in the world, the cherry farming area is estimated to have grown by 4.6% to 80,000 hectares in the 2025-2026 season. Consequently, the production has also increased by 6.7% to 730,000 tonnes, as per the U.S. Department of Agriculture.
This substantial growth in supply, at a time when demand in key markets has not significantly increased, has resulted in a decrease in prices in various locations, including Vietnam.
Why have cherry prices plunged by half this year?
The prices have fallen due to an increase in supply after last year’s shortages. However, the demand has not matched the increased supply, forcing sellers to reduce their prices.
How has this affected the retail chains?
Retail chains such as MM Mega Market and Go! have also had to reduce their prices. For instance, the cost of Australian cherries has dipped to VND250,000-400,000 per kilogram from VND500,000 last year.
What was the value of fruits and vegetables imported by Vietnam last year?
Vietnam imported fruits and vegetables worth $3 billion last year, marking a 24% increase from 2024.
