Global: Rising avocado prices in 2024 driven by lower global supply

Published Oct 25, 2024

Tridge summary

The global avocado market in 2024 experienced a price surge due to a decrease in supply, with Peru being the primary contributor. Despite this, Mexico remained the leading exporter with a 42% market share. The southern hemisphere, including Mexico, saw a 12% increase in export volume, while Peru's growth may be limited due to cultivation area stagnation. Colombia has emerged as a significant player in the market, with a 6513% increase in exports over the past decade. Chile's exports saw a slight recovery in the 2023/24 season, driven by better climatic conditions and improved water reserves for the 2024/25 season. India is identified as a high-demand market for avocados, offering potential for producers and exporters.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Yearbook highlights that during 2024, the global avocado market has seen a significant increase in prices, especially in markets such as China, Europe and the United States. This increase is due to a reduction in global supply, with Peru being the main cause of the decrease, which has had a direct impact on values. Despite this contraction, Mexico has managed to consolidate itself as the main exporter, with a 42% share of the global market, maintaining its leadership in avocado supply. As a whole, the southern hemisphere and Mexico experienced a 12% growth in exported volume, with Mexico accounting for 57% of the total. Peru, despite ranking second with a 28% share, has shown signs of slowing down due to stagnation in cultivated area, which could limit its capacity for future growth. In contrast, Colombia has surpassed Chile since 2022, ranking third with a 5% share, reinforcing its rise as a key player in the global market. Chile, for its part, has fallen to fourth place with ...

Source: Portaldelcampo