While consumer fears abate, cherry prices remain depressed in China During the last week of January, inspectors in China detected Covid-19 on a shipment of imported cherries. The market saw immediate effects from the breaking of this news: prices and demand dropped. “The initial news of a Covid-19 positive test on cherries had an almost immediate negative impact on prices,” says Craig Stauffer, CEO of Vanguard International. “There was some brief positive movement on sales volumes and prices as markets believed that priced had hit rock bottom, willing to gamble that prices would increase. However, with additional volumes arriving, we are once again seeing downward pressure on prices.”