The import of fresh cherries to Singapore has demonstrated consistent growth from 2024 onwards. In 2023, the value stood at $23.650 million. The forecasted value for 2024 is $24.098 million, reflecting a year-on-year increase of approximately 1.89%. The projections suggest further increases: 1.96% to $24.572 million in 2025, 1.89% to $25.036 million in 2026, 1.82% to $25.491 million in 2027, and 1.75% to $25.937 million in 2028. Over this five-year period, the compound annual growth rate (CAGR) is expected to be around 1.80%, indicating steady growth.
Future trends to watch for include changes in consumer preferences, potential trade agreements, and economic factors impacting both supply and demand. Monitoring these areas will be crucial for anticipating variations and making informed decisions.
