Published evidence indicates that nearly 60% of blueberry-producing countries experience yield instability. Yield is a complex trait determined by genetic and environmental factors. Here, using physiological and biochemical approaches, we tested the hypothesis that yield instability results from year-to-year environmental variation that limits carbon assimilation, storage and partitioning. The data indicate that fruit development depends primarily on the daily production of non-structural carbohydrates by leaves, and there is no accumulation of a starch buffer to allow continuous ripening under conditions limiting for photosynthesis. Photosynthesis was saturated at moderate light irradiance and this was mainly due to stomatal and biochemical limitations. In a dynamic light environment, photosynthesis was further limited by slow stomatal response to increasing light. Finally, labelling with 13CO2 at specific stages of fruit development revealed a relatively even distribution of newly assimilated carbon between stems, roots and fruits, suggesting that the fruit is not a strong sink. We conclude that a significant component of yield variability results from limitations in photosynthetic efficiency that are compounded by an inability to accumulate starch reserves in blueberry storage tissues in a typical northern European environment. This work informs techniques for improving agronomic management and indicates key traits required for yield stability in such environments.