EU and U.S. avocado markets have room for growth - Camposol
There is good reason to expect an increase in EU and U.S. avocado markets, Camposol International managing director José Antonio Gómez Bazán told Peru's Agencia Agraria de Noticias.
He said that a study by the Hass Avocado World in 2019 indicated that almost 50 percent of U.S households do not consume avocados. This suggests that, if that percentage were to begin buying the fruit, the U.S market would effectively double.
The U.S. avocado market has already increased significantly over the last several years, quadrupling from 2003 to 2020.
The article likewise stated that, although per capita avocado consumption in Europe is still one third that of the U.S., it is increasing steadily. Europe has quintupled the size of its avocado market from 132,000 metric tons (MT) to 667,000MT between 2013 and 2020.
Gomez said that if Europeans were to begin eating avocados at the same rate as people do in the U.S, Europe could come to triple its size, reaching 2 million MT.
"It would be formidable to achieve that, but it is a very delicate job, doing the promotion that the market requires because if not all the growth in volume is paid at the price as we have seen this year," he was quoted as saying.
According to Agraria, in upcoming years, a sustained increase in avocado hectares is expected worldwide, which will increase production. However, Gomez was quoted to say this increase will be below the growth in demand. In addition, he stressed that said productive increase will be with imbalances in the commercial windows.
Reportedly, the main challenge of the sector will be to maintain the prices of the fruit in the international markets, even when the supply increases.