Lower volumes could bring more balance to European market during summer months
A projected 16 per cent decline in Peruvian Hass avocado exports this year is set to reduce the risk of an oversupplied European market this summer. According to industry body ProHass, Peru expects to ship around 468,000 tonnes in 2024, down from 558,000 tonnes last year, mainly due to unfavourable climatic conditions and a slowdown in new plantings.
Already this year, prices are 40-50 per cent above levels seen in the same week last year, although only small quantities of fruit have been shipped. This is due to lower output from Mexico, which is just finishing its main campaign, the smaller California crop and water availability issues impacting production in Spain and Portugal.
With Peruvian volumes set to ramp up in April and May, the hope is that prices will remain firm as we head into summer.
Meanwhile, the expansion in Peruvian avocado acreage appears to have stalled. According to ProHass, acreage was growing by 12-15 per cent year-on-year, but this has virtually stopped due to a number of political, financial and logistical factors.
