Mission Produce registers higher year-over-year income due to avocados

The increase was due to higher avocado volumes and pricing discipline, despite the excess supply. The company stated that its vertically integrated model, which combines supply and cultivation assets, allows it to maintain consistency in the changing dynamics of supply and demand. Mission Produce optimized its supply assortment between Peru and Mexico during the quarter. Higher yield in Peru and the normalization of supply in Mexico favored volumes and margins. Sales in Europe increased by 37% year-over-year, while new channels in Asia expanded distribution. The company indicates that its international diversification reduces exposure to U.S. price volatility. For the fourth quarter, Mission Produce expects lower prices, with a 20-25% year-over-year decline as supply increases. Investments in the improvement of packing warehouses in Mexico and diversification into mangoes and blueberries aim to offset margin pressure through volume growth. The company also mentions the strength of ...