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US avocado prices skyrocketing, but not because of tariffs

There are a few reasons avocado prices have spiked and are likely to continue to rise in the coming weeks. For the first week of July, the wholesale prices of mid-sized avocados from Mexico were 129% higher than this time last year, said 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 said, noting the wholesale price was $84.25 for a 25-pound box compared to $37 the week of Independence Day 2018.

The increased wholesale price has been making its way to grocery stores. According to the most recent 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.

While prices may continue to increase over the next couple of weeks, the high prices may only be temporary.

Source: eu.usatoday.com


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