Avocado oversupply results in three-day giveaway in Philadelphia
From
| 25 October 2022
Overview of avocados from Mexico in the U.S. market, complemented by charts from Agronometrics. Original published on October 21, 2022.
“Sharing Excess”, a group that combats food waste, organized a massive public donation in FDR Park, Philadelphia. Around 380,000 avocado units were given for free to locals and the giveaway is set to continue until Friday 21st., The Washington Post reports.
During the first months of 2022, Mexican avocado suffered a drop in production that led to higher values and an influx from other countries, such as Peru. Avocado trees are also alternate bearing and were recovering from an off year.
At that time, the price of midsize Mexican avocados peaked at $87 per case, an increase of 180% year-on-year.
Source: USDA Market News via Agronometrics.
(Agronometrics users can view this chart with live updates here)
However, by July and August, Mexico’s harvests increased again, which might be the reason for the surplus, analysts say.
Presently, a case of midsize Mexican avocados now sells for $30 approximately, down about 25% from a year ago.
Source: USDA Market News via Agronometrics.
(Agronometrics users can view this chart with live updates here)
“We’re able to handle this amount (…) we’ve been moving these all week. It started to just get to a point where we were saturating the organizations that we normally distribute to, and we realized that we needed to probably do a large distribution on our own,” said Evan Ehlers, founder and executive director of Sharing Excess to the publication.
The non-profit organization also donated 150,000 avocados to food banks in the area. The fruit is commonly referred to as “green gold” because of its profitability.
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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