Avocados and coconut water are trendy products in the West, due to their superfood status. Wholesale prices of the products have soared to record highs because of the seemingly insatiable demand and are set to climb even further, reports The Daily Mail.
Consumers have fallen for avocados because they have zero cholesterol and are seen as a healthy diet food, while coconut water, which President Obama was recently seen sipping, has become a hit as it is supposed to rehydrate you quicker.
But this popularity can come at a cost. Avocado prices jumped from about 86 cents in January to above $1.25, caused by a continuing rise in demand in Europe and, recently, China.
Meanwhile, it has been a disastrous year for the crop in Mexico – one of the biggest producers alongside Chile and Peru – with huge swathes wiped out by bad weather.
The demand for coconut water has put pressure on the crop in the Philippines, the world’s biggest producer.
It harvests young coconuts to produce the water, but this is hitting the cost of coconut oil, which is made from older coconuts.
Read more: www.thisismoney.co.uk
