New Zealand’s cherry industry has demonstrated strong long-term growth, driven by the country’s ideal climate and proximity to Asia. Now Deep Creek Fruits NZ is investing in two cherry orchard projects (Mt. Pisa and Lindis River) in Central Otago. Both projects are to be managed by leading New Zealand horticultural consultant Hortinvest.
Speaking to GlobalAg Investing, Sharon Kirk, director of Deep Creek Fruits and marketing and sales manager of Hortinvest, said that Summerfruit NZ predicts a 40% dollar value growth in New Zealand cherry exports over the next 20 years.
“New Zealand’s cherry industry has demonstrated strong long-term growth, driven by our key competitive advantages such as the ideal climate and conditions, proximity to, and free trade agreements with markets in Asia. New Zealand’s reputation for producing premium quality cherries, perceived globally as a luxury product, enables it to receive the highest price per to in global markets,” said Kirk. “As a Southern Hemisphere cherry producer, the New Zealand industry is not competing with produce from the Northern Hemisphere.”
The global fresh cherry market is expected to grow at a CAGR of 5.5% between 2017 and 2022 to reach a value of US$5.2 billion, according to research conducted by Transparency Market Research (TMR).