U.S. Avocado Imports Hit Record 1.1B Tonnes but Growth Slows Sharply

IndexBox has just published a new report: 'U.S. - Avocados - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

U.S. avocado imports reached a record 1.1B tonnes in 2020, increasing slightly against the previous year. Despite the growth persists, it had slowed down sharply against the robust figures recorded the last three years in a row. Mexico's dominant position in U.S. avocado imports remains unabated. Shipments from Peru and the Dominican Republic grow robustly but still comprise a combined share of only 10% of imports.

U.S. Avocado Imports in 2020

For the fourth consecutive year, the U.S. recorded growth in overseas purchases of avocados, which increased by 1% to 1.1M tonnes in 2020. Although imports reached the peak figure in 2020, the pace of growth was small compared with the double-digit figures recorded almost every year from 2011. In value terms, avocado imports amounted to $2.5B (IndexBox estimates) in 2020. 

U.S. Avocado Imports by Country

In 2020, Mexico (1M tonnes) constituted the largest avocado supplier to the U.S., with a 90% share of total imports. Moreover, avocado imports from Mexico exceeded the figures recorded by the second-largest supplier, Peru (77K tonnes), more than tenfold.

From 2007 to 2020, the average annual growth rate in terms of volume from Mexico totaled +15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+134.1% per year) and the Dominican Republic (+8.5% per year).

In value terms, Mexico ($2.3B) constituted the largest supplier of avocado to the U.S., comprising 90% of total imports. The second position in the ranking was occupied by Peru ($191M), with a 7.5% share of total imports.

From 2007 to 2020, the average annual growth rate in terms of value from Mexico totaled +12.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+122.9% per year) and the Dominican Republic (+8.4% per year).

Import Prices by Country

In 2020, the average avocado import price amounted to $2,275 per tonne, reducing by -12.2% against the previous year. The pace of growth was the most pronounced in 2017, an increase of 31% y-o-y. As a result, the import price reached the peak level of $3,030 per tonne. From 2018 to 2020, the growth in terms of the average import prices failed to regain momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Peru ($2,462 per tonne), while the price for the Dominican Republic ($1,590 per tonne) was amongst the lowest.

From 2007 to 2020, the most notable growth rate in terms of prices was attained by the Dominican Republic, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform