Export prices are sitting in a strong position, with healthy demand for New Zealand products across the world and healthy supply here at home. Higher dairy production and a record pay-out will inject an additional $4.5b into the economy in the current season, and meat prices have strengthened over the second half of 2024 too. Horticulture exports are in a strong position too, with rising kiwifruit exports after a tough earlier season, and apple exports have recovered well too after Cyclone Gabrielle.

That strong demand for fruit extends to some of New Zealand’s smaller but still extremely high-value crops. Cherries make up 2.6% of fruit and nut export values over the year ending February 2025, despite being just 0.5% of the total volume of those exports.

Cherry exports surged in the most recent season as strong demand overseas was supplied from a strong, if not slightly later seasonal run of cherry production. Export data shows cherry exports over the 2024/25 season (February years) reached 5.07m kg, up 33% from the prior season.

That’s the highest export volume ever, easily topping the next largest year, of 4.2m kgs exported in the 2017/18 season (see Chart 1).

That volume helped return $124m in export value for New Zealand, unsurprisingly also the largest export value on record, and the first time exports have been valued at more than $100m.

The rise in cherry exports has been substantial. New Zealand cherry export volumes are now nearly six times the size seen two decades ago, and export values are nearly twelve times higher.

Cherry prices hold at high levels despite volume surge

That strong rise in export values has been achieved through cherry export prices more than doubling over the last two decades. Annual average implied export prices for cherries rose slightly to $24.44/kg in the latest season.

The slight rise in price, even as volumes jumped by a third, indicates the level of demand for cherries in key markets. In the short-term, export volumes are more driven by supply than by demand, as planting more cherries takes time and returns aren’t immediate. But, such a large increase in volumes could cause prices to fall if the increase in supply isn’t matched by healthy demand. That clearly hasn’t been the case, which is a strong encouragement for both the cherry industry and the wider horticulture sector, with strong demand more than able to absorb higher supply.

Asia the lead market for cherries, but US also saw a boost

Taiwan remains the largest export market for New Zealand cherries, taking 46% of total exports in the February 2025 year. That share was slightly up on last season. In fact, nine of the top ten countries taking New Zealand cherries were in Asia, accounting for 95.7% of exports.

China was the second-largest market, taking almost 15%. Although this share was down from 19% in the prior season, the total volume of cherries exported from New Zealand to China was broadly similar to last season. Vietnam was the third-largest export destination, taking just under 11%.

The United States is the seventh-largest export destination for New Zealand cherries in the latest season, taking 144,000 kgs. That total represented 2.8% of total cherry exports this season, up from 1.7% last season. The US appears to be a fickle and challenging market, with cherry volumes to the US having actually been larger in prior years, despite the blockbuster overall export result in the 2024/25 season.

The Middle East also deserves a mention, with strong growth in cherry exports to this part of the world, although no areas have yet cracked the top 10. The United Arab Emirates took 60,000kg, or 1.2% of total exports, more than triple the exports they received in the prior season. Saudi Arabia also rose up the ranks, taking 25,000kg. Although only 0.5% of total cherry exports from New Zealand, Saudi Arabia took no New Zealand cherries in 2023/24, and previously the largest total in a February year was 2,500kg in 2022/23.