New Zealand: Markets abound for growing avocado crop

Published 2024년 6월 25일

Tridge summary

A Rabobank report forecasts a surge in global avocado consumption and import demand, offering significant export opportunities for New Zealand, which is projected to triple its production to 75,000 tonnes by 2031. The US, currently importing over 95% of its avocados, presents a substantial market with its consumption exceeding 3 billion pounds for the second year in a row. Asian countries, including China, are also experiencing strong growth in avocado imports, indicating a vast potential for increase in per capita consumption. Despite challenges such as biennial bearing, storms, and market disruptions, New Zealand's avocado growers are optimistic, looking towards a future of increased exports, especially to China, despite temporary setbacks like cyclonic damage and reduced demand from Australia and Canada.

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Original content

Global avocado consumption and import demand are expected to grow, creating opportunities for New Zealand growers to export a quickly expanding crop. Industry forecasts are for 75,000 tonnes of NZ production in 2031, three times the harvest in 2023-24 and twice that of the previous season, according to a new report by agribusiness banking specialist Rabobank. The Global Avocado Update 2024 provides a startling illustration of the soaring demand for avocados in its look at the United States. In 2022-2, US consumption of avocados exceeded 3 billion pounds (1.35 million tonnes) for the second time, while imports for the 2023 calendar year hit an all-time high of 2.7 billion pounds (1.26 million tonnes). On that scale, NZ is producing less that 0.5% of the US demand. Report author Pia Piggott said the demand for avocados is also growing strongly in several other regions around the world, increasing import requirements. “Over the last decade we’ve seen the US become increasingly ...

Source: Farmersweekly