Peru: Lower avocado shipments would be offset by better prices

Fresh Avocado

Fruits

Peru

Market & Price Trends

Published Mar 20, 2024

Tridge summary

Scotiabank's Department of Economic Studies forecasts that avocado exports in 2024 will remain steady at around US$970 million, despite a predicted decrease in export volume due to higher temperatures from the FEN. This is expected to be balanced by a 12% increase in average export price to US$1.80/kg, driven by a global supply drop. Climate factors are predicted to reduce California's supply by 20-30%, while water scarcity will impact crops in Spain and Portugal. Chile's production is now primarily for domestic consumption.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The Department of Economic Studies of Scotiabank indicated that this year's avocado export levels would be similar to 2023, whose production was affected by climatic anomalies, however this would be compensated by better prices. “According to our projections, during 2024 avocado exports would be around US$970 million, a level similar to that recorded during 2023 (US$964 million), according to our projections. This year's campaign would still be affected by the higher temperatures associated with the FEN, which would generate a drop in the volume exported, but which would be offset by higher prices," Scotiabank notes in its Weekly Report. Thus, the average export price would be around US$1.80/kg, 12% higher than the US$1.61/kg in 2023, mainly due to lower global supply. Scotiabank points out that according to Prohass data, the supply of California (USA) would register a decline between 20% and 30% due to climatic factors. The crops of Spain and Portugal would also be affected as a ...

Source: Portaldelcampo