Peruvian avocado exports are expected to exceed 359,000 tons this year and, thus, yield better results compared to 2018, when record volumes were achieved with growth rates of 46%, consulting firm
Fresh Fruit projected.
In this sense, the firm stressed that market diversification is imperative to reduce the risk of low prices for this product.
Fresh Fruit emphasized that Asian countries are emerging as the best option for expansion.
"The Peruvian fresh avocado harvest season is about to start and expectations are encouraging," Fresh fruit affirmed.
In this regard, the consulting firm says 2018 set a record production level, but, for exporters, brought lower prices —16% less— going from an average price of US$2.38 to US$2 per kilo.
Fresh Fruit explains that California and Mexico —the two world's biggest producers of avocados— supplied the market with large volumes and the global oversupply punished the price. Peru —whose exports are used to go to Europe and the United States— had to assume such fall.
According to Fresh Fruit estimates, the events of two years ago will recur and average prices will be somewhere between US$1.97 and US$2.03 per kilogram —up to 8% less than the US$2.14 in 2019.
Finally, the consulting firm commented that in the middle of 2019, the Producers and Packers/ Exporters of Avocado of Mexico (APEAM) announced that its exports to the United States would exceed one million tons in the 2019-2020 season, while 188,513 tons would be
placed in other markets.
In the case of the United States, estimates of the California Avocado Commission point to a 2020 avocado harvest that is 70% higher than that of 2019.
If these projections are fulfilled, the price is most likely to decrease.
(END) SDD/JJN/JRA/MTS/RMB
Published: 2/18/2020