U.S. Avocado Imports Increased Fourfold in Past Decade

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.

Imports into the U.S.

For the fourth consecutive year, the U.S. recorded growth in supplies from abroad of avocados, which increased by 31% to 1.4M tons in 2020. In value terms, purchases amounted to $2.4B (IndexBox estimates). Over the past decade, U.S. avocado imports soared fourfold in physical terms.

Mexico (1.3M tons) was the main avocado supplier to the U.S., with a 92% share of total volume. Moreover, imports from Mexico exceeded the figures recorded by the second-largest supplier, Peru (85K tons), more than tenfold.

In value terms, Mexico ($2.2B) constituted the largest supplier of avocado to the U.S., comprising 91% of total imports. The second position in the ranking was occupied by Peru ($174M), with a 7.1% share of total purchases.

From 2010 to 2020, the average annual growth rate of value from Mexico totaled +15.8% per year. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+88.0% per year) and the Dominican Republic (+9.3% per year).

The average avocado import price stood at $1,685 per ton in 2020, shrinking by -35% against the previous year. There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Peru ($2,059 per ton), while the price for the Dominican Republic ($1,343 per ton) was amongst the lowest. From 2010 to 2020, the most notable rate of growth in terms of prices was attained by the Dominican Republic, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform