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Peruvian avocado prices fall by 19%

Overview of the avocados from Peru in the U.S. market, complemented by charts from Agronometrics.

Original published in on August 14, 2020 

According to Fresh Fruit, between January and July 2020, Peru exported 317,657 tons of fresh avocado exports for 615 million dollars, i.e. an 18% increase in volume and a 4% decrease in value over the same period in 2019. The average price of avocados in this period was $ 1.92 per kilo, which is 19% lower than last year.

The consulting firm highlighted the impact that the expansion of the pandemic has had on the avocado market. Consumers, who have less income because of the blow to the global economy, are prioritizing other fruits instead of avocados. However, the pandemic has also affected the countries that produce this fruit and that compete with Peru, limiting their ability to export or increasing their costs, which has benefited the Peruvian avocado. This scenario has had a strong effect on this fruit's price, as it has fallen below $ 2.00 per kilogram, one of the lowest prices to date.

Historical price (USD/KG) of avocados from Peru in the US market

Source: USDA Market News via Agronometrics.
(Agronometrics users can view this chart with live updates here)

Market concentration

As in previous years, Peruvian avocado exports concentrated in two markets: the Netherlands, with a 37% share, and the United States, with a 20% share.

During the analyzed period, Peruvian exports to the Netherlands totaled 114,756 tons (+ 22%) for 223 million dollars (+ 6%). The greater Peruvian supply in this market caused a 12% drop in prices, reaching an average value of $ 1.95 per kilo. In this destination, the demand for avocado increased by 2%.

Peru positioned itself as the Netherlands ' main avocado supplier with a 40% share. It was followed by South Africa with 11%, and Chile with 10%. The price of the Peruvian avocado in this country was 7% lower than the South African fruit and 18% lower than the Chilean avocado. The main buyer in this market was Nature's Pride BV, with a 16% share.

Peruvian exported a total of 67,158 tons (-14%) worth 134 million dollars (-37%) to the United States. Despite the lower Peruvian supply, the average price of avocados was $ 2.00 per kilogram, i.e. 26% lower than last year.

US avocado imports decreased by 10%. Peru positioned itself as this market's second-biggest supplier of avocado with an 11% share (similar to that of 2019), after Mexico, which had an 87% share. The price of Peruvian avocado in the US was 7% higher than that of Mexican avocado, and its main buyer was Mission Produce Inc., with a 28% share.

The News in Charts is a collection of stories from the industry complemented by charts from Agronometrics to help better tell their story.

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