Peru hits avocado export forecast but has suffered from low prices
The Peruvian avocado season is expected to end up this month with export volumes hitting forecasts but significantly lower prices year-on-year in international markets, local media reports.
The country is reportedly set to see growth of around 23% in the season that runs from February to September, with exports to come in higher than 360,000 metric tons (MT), bringing it in line with the 2018 season.
However, prices have fallen by between 20% and 25% so far this year, compared to the same period in 2019.
In January and February - months in which the coronavirus outbreak had still not spread to all continents - the prices of avocados were good. But as of March, they suffered a constant fall, according to information from Agrodata Peru.
“Compared to last year, in general there has been a decrease in prices," Daniel Bustamante of the Peruvian Hass export group ProHass said.
"This is because last year was of very good prices, and in 2020 there is a greater production not only in Peru but also in other countries, in addition to a contraction of the destination markets due to the closure of hotels and restaurants, which are large consumers."
He therefore expects that there will be lower investment in new hectares of avocado cultivation, which in recent years increased at a rate of between 1,500 and 2,000 hectares per year.