What Americans Will – And Won’t – Pay For Avocados, In One Chart
September 15, 2017 | 1 min to read
The much-Instagrammed avocado is getting more exclusive by the day. And soon enough, more affordable.
Farmers in both California and Mexico have collected meager harvests this year, precisely as demand surges for that fancy green toast. In California, where growers pick from February through August, the trees were having an off year. South of the border, a dry growing season crimped the fruit. A renegotiation of the North American Free Trade Agreement may well make it worse. Avocado prices are hovering at record highs.
Demand has surged and remains high. Americans ate 1.9 billion of the little green pods last year, up 57 percent from five years ago, according to the Hass Avocado Board, an industry trade group. Brooklyn now has an “avocado bar,” California growers are pushing avocado pie, and Americans are paying close to $1 million a month on avocado toast at restaurants that use Square, the credit-card processor said.
To read the rest of the story, please go to: Bloomberg