Avocado Price Increases

Treasure every bite of that portion of guacamole before you! Due to recent shortages, the price of avocado has spiked over $100 MXN per kilo ($130 pesos, or close to $7 USD). Jesus Melgoza, Secretary of Economic Development in the state of Michoacan (where 85 percent of Mexico’s avocado is produced), explained in a press conference that the so-called ‘green gold’ will continue to be sold at unusually high prices until the latest crops are ready for harvesting. “It’s a matter of supply and demand,” he said. With an annual production of 1.65 million, Mexico is the largest avocado producer/exporter in the world, followed by the Dominican Republic, with 387,546 tons anually.