A similar rise happened around the same time last year when there were similar movements in the market. That rise was the beginning of a huge price spike that lasted until October and reached a peak price level of US$79.82 in week 37.
Prices have continued to rise rapidly this week, on Wednesday (August 8) reaching US$43.32 per box.
The California season is now winding down while Mexico is beginning to ramp up volumes from its new crop.
Brent L. Scattini, vice president of sales and marketing of California-based Mission Produce, told Fresh Fruit Portal that overall supply in the U.S. market last week came in around 50 million lbs.
“Now that we have transitioned into the Mexican flor loca crop, the California crop winding down at a rapid pace, and the imminent end to the Peruvian season, it is likely that we will see high prices for at least the next 9 to 12 weeks, and maybe longer,” he said.
“We have already seen massive price increases in the field, which has caused North American prices to almost double in a very short period of time.”
US Hass Avocado Shipping Point Prices