It’s not your imagination: Avocados are more expensive, but tariffs aren’t to blame.
However, there are a few reasons the price of the popular fruit has spiked and is expected to continue to rise in the coming weeks, USA Today reports.
For the first week of July, the wholesale prices of mid-sized avocados from Mexico were 129% higher than this time last year, says David Magaña, vice president and senior analyst at Rabobank based in Fresno, California.
“This is the highest price for this time of the year in at least a decade probably more,” Magaña says, noting the wholesale price was $84.25 for a 25-pound box compared to $37 the week of Independence Day 2018.
According to the most recent U.S. Department of Agriculture weekly retail price report, the average national price of a Haas avocado was $2.10 July 5, compared to $1.17 from the July 6, 2018 report.
Magaña outlines three main reasons fueling the increase. “One is expanding global demands including U.S. demand, it just continues to grow,” he says. “Avocados are not only consumed now for Super Bowl or during Cinco de Mayo celebrations but year-round consumption.”
California’s avocado season is coming to an end and was the smallest crop in more than a decade, he says. While prices may continue to increase over the next couple of weeks, the high prices may be temporary and could go down when production ramps up in Mexico again. Read the full story.