Mexican avocado exports show record rise
Mexican avocado exports have tripled over the past decade, according to the Mexican news source El Economista.
The site reports that the total Mexican avocado exports for the period from January to November 2020 reached over 1.2 million metric tons (MT).
This is a significant rise from the 369,000MT registered for the entirety of 2010 and, based on data from the Mexican Ministry of Agriculture, represents a record increase of 6.3 percent year-on-year.
In 2020, though, Mexican foreign sales of avocado fell 7.4 percent to about $2.7 billion from January to November.
Most avocados sold in the United States are imported from other countries, particularly Mexico. In 2018, for example, 76 percent of national avocado consumption was imported from there.
Since then, the US Hass avocado industry has grown, reaching a total market value of $ 6.5 billion in 2019. The Department of Agriculture has placed the compound annual growth rate for total avocado consumption between 2008 and 2018 at 9.4 percent, rising from 1.1 billion pounds to 2.6 billion pounds.
Contributing to this growth were factors such as an increased interest in healthy eating and foods high in nutrients. Demographic changes also played a part according to El Economista, with 75 percent of Hispanic households purchasing avocados.
The US Hass avocado market is projected to continue its growth with an expected 5.5 percent annual increase between 2019 and 2023.
However, as Mission Produce was cited, US retail avocado prices tend to fluctuate due to supply dynamics. In 2019, for instance, the average retail price per pound for Hass avocados was $ 2.57, an increase of percent from the 2018 average retail price per pound of $ 2.42.