Avocados smash record price as suppliers struggle with increased demand

 
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The popularity of avocados in everything from breakfast to face scrubs is driving the price up (Source: Getty)

An insatiable appetite for avocado combined with poor harvests has driven the price of the fruit up to more than double what it was this time last year.

The average price of a 10kg box of Hass avocados from Mexico's biggest supplier is currently selling for about 530 pesos (£21.78), twice its April 2016 price. This beats a previous high of 500 pesos (£20.54) last June, according to Bloomberg data.

Soaring consumption in the US and China has led a massive growth in demand. An average American ate 3kg of avocado in 2015, double the amount consumed in 2006.

But the emergence of new markets in Europe and China means that the US, the world's biggest importer of avocados, will now have less access to Mexican crops. Mexico currently 82 per cent of avocado shipments into the US, according to data from the Hass Avocado Board, but that is expected to decline.

Meanwhile, the overall harvest of the food in avocado hotspots has been poor, and the dearth looks set to continue. California avocado harvest is forecast to be down 44 per cent this year, potentially triggering even higher prices.

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