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Fresh Produce

Global Avocado Prices Set To Level Out: Promega

Celso Castillo, sales manager at Mexican company Promega, has said that global avocado prices are on track to level out, as demand in the European and Asian markets grows and US prices fall.

Promega can now sell avocados to consumers in Europe and Japan at the same price(s) as those sold in the US, where prices have historically been cheaper, Castillo told FreshPlaza.es.

Currently, American prices are decreasing, but Europe, Canada and Japan are offering substantially better rates. Castillo interpreted this as a trend towards the homogenisation of prices in the near future.

He also identified a deficit of 1 per cent between global demand and production of Hass avocados.

This means that producers are not that concerned about competition at the moment. In fact, Castillo warned that El Niño and other meteorological phenomena are bigger worries.

However, despite these concerns, Promega is optimistic about Mexico’s potential as a producer of avocados for the global market.

"Mexico excels in its huge production capacity, and it's the future of the avocado industry," said Castillo, who explained that the weather and soil conditions make it possible for the country to produce avocados all year long.

© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Gabriela Guédez. To subscribe to ESM: The European Supermarket Magazine, click here.

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