Benchmark contracts
| Benchmark | Type | Contract spec | Unit | Range | As of | Deliverable grade |
|---|---|---|---|---|---|---|
| ChileHeadline | physical_fob | Export-grade fresh sweet cherries, premium large-size fruit, counter-seasonal peak window | USD/MT | 4500–9000 | Jun 2026 | — |
| United States | physical_fob | Exportable fresh sweet cherries, mixed size/pack-out, peak harvest | USD/MT | 3500–7000 | Jun 2026 | — |
| Chile/United States/Australia | physical_cif | Premium imported cherries landed in coastal China retail supply chain | USD/MT | 7000–14000 | Jun 2026 | — |
| Turkey | physical_fob | Main export quality, standard bulk fresh sweet cherries | USD/MT | 2000–5000 | Jun 2026 | — |
| United States | physical_fob | Frozen or processed tart cherry ingredient basis | USD/MT | 1800–3200 | Jun 2026 | — |
Premium structure
Differentials between benchmarks reveal where physical cherries trades relative to the futures reference and how regional grades price against the global standard.
| Benchmark | Differential | Notes |
|---|---|---|
| Chile | — | |
| United States | Varies by cultivar, size, and late-season firmness | |
| Chile/United States/Australia | Includes freight, duties, handling, and retail-margin embedded premium | |
| Turkey | Typically discounted to Chile due to season overlap and shorter logistics reach | |
| United States | Not directly comparable to fresh sweet cherry FOB |
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