W2 Avocado Update: Peruvian Avocado Targets 100 Thousand MT Export for 2024, Myanmar Exports Declined, and South African Avocado Transforms China's Market

Peruvian Avocados Aiming to Export 100 Thousand MT in 2024 to the US

Peruvian avocado exporters are strategically focusing on the United States (US) market, aiming to ship 25% of Hass avocado production to North America by 2025. The president of the Peruvian Avocado Commission (PAC) envisions sending between 136.08 to 158.76 thousand metric tons (mt) to the US, emphasizing the need for increased dry matter percentage. To ensure sustainable growth and promote market expansion, the Peruvian avocado supply is aiming to export 90.72 to 100 thousand mt to the US market for 2024 season.

Downturn in Myanmar's Avocado Market As Late-season Exports Are Limited to Thailand

Myanmar's avocado market is facing a downturn, with late-season exports limited to Thailand. Various challenges, including adverse climate conditions and exchange rate instability, have constrained export activities, preventing planned orders, particularly a 1 thousand metric tons order from India for the 2023 season, from being realized. All of these resulted in reduced prices ranging from USD 1.43 to 1.91/kg (MMK 3,000 to 4,000/kg). This is a notable decrease compared to the previous season in 2022 when prices ranged from USD 2.86 to 3.82/kg (MMK 6,000 to 8,000/kg). From August 2023, Myanmar exported approximately 2 thousand metric tons of avocados to Thailand.

The South African Avocado Transforms China's Market with Shorter Shipping Advantage

The International Fresh Produce Association (IFPA) predicts that China has expected an increased avocado consumption with the influx of South African avocados. It notes a decade's rapid growth in global avocado trade, reaching 2.5 million metric tons (mmt) worth USD 6.9 billion in the 2021/22 season. South Africa, with 19,091 hectares (ha) of avocado plantations, has seen a steady export recovery, exceeding 15 million boxes of 4-kg in 2022/23. Access to China is a game-changer, with shorter shipping times giving a competitive edge. Major players are gearing up for significant exports, expanding the Chinese avocado market.