Tuesday 27 June 2017

Why avocado prices have hit all-time high

The doctor reports that up to four patients each week present to A&E in St Thomas' Hospital in London with wounds caused by an avocado accident
The doctor reports that up to four patients each week present to A&E in St Thomas' Hospital in London with wounds caused by an avocado accident

Helena Horton

It looks like it could be time to find something else to spread on toast or pile on nachos: avocado prices have hit a record high.

Surging global demand and reduced harvests from major producers Mexico, Peru and California have meant the popular fruit is getting expensive.

According to Bloomberg data, prices from suppliers have almost doubled; Mexico's biggest producer is selling a 10-kilogram box of Hass avocados for about 530 pesos (€25.80), which is around twice what it was last year.

It doesn't appear the price will drop anytime soon; analysts have said consumers should expect remain at "elevated levels".

A growers strike in Mexico and a drought in California have meant there is not enough avocado to meet global demands.

The average price of an avocado in the US has surged from $0.98 (€0.90) each in April 2016 to $1.26 (€1.15) in April 2017.

The food trend for avocados hasn't helped matters.

Widely lauded as a health food, the fruit can be seen everywhere, from toast to chocolate pudding.

Many are concerned avocados could face a further price hike - President Trump has threatened to levy tariffs on Mexico and exit NAFTA, which could come as a blow to avocado fans.

Telegraph.co.uk

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