Increased export volume and weak demand contributed to the fall in Peruvian avocado prices this season.
Peru's avocado exports have reached a record high this year, but higher sales and weak demand due to COVID-19 have put downward pressure on prices.
As of the end of August, Peru's total avocado exports were 386858 tons, up 24% from the same period in 2019, up from 350199 tons in 2018, according to fresh fruit, a Peruvian consulting firm. But prices are far below last year's levels. The average price this season was $1.85 per kilogram, down 23% from $2.40 per kilogram last year, according to agrodata, a Peruvian agricultural data company.
"Peru, whose exports grew this season, expects demand to grow at the same rate. However, the COVID-19 has reduced income and reduced consumption, affecting Fruit prices, "Fresh Fruit noted.
"Europe, the main export market for Peru's avocados, was one of the markets most affected by the oversupply, with prices falling to $1.78 a kilogram."
In an interview with Importers in Shanghai Huizhan market in August, Peruvian avocados have performed poorly in The Chinese market this season, due to quality problems such as skin spots on some fruits in addition to an oversupply.