Avocados So Cheap Now Due To A 'Perfect Storm' Of Many Events
Grocery shopping is a very doom-and-gloom sort of game right now. Egg prices? Higher. Turkey prices? Higher. Milk, cheese, and beef? Spoiler alert — the price of every one of 'em (and more) is higher, thanks to the worst inflation in over 40 years.
Finally, though, shoppers are about to see a little bit of relief in one beloved item, as avocado prices are dropping by a significant margin. Avocados haven't always been immune to the inflation crisis, however. In fact, according to CNN Business, in-store prices are down 2.6% from a year ago, which is a marked change from the previous year's enormous 31% price hike!
This news is quite a relief for cash-strapped consumers, especially those who want to eat a relatively healthy diet. Avocados, a known superfood, actually help reduce heart-unhealthy cholesterol levels, known as LDL cholesterol, according to Harvard Health Publishing. Such a ray of sunshine is likely much needed right now, as more and more consumers are eating out at cheap fast food restaurants like McDonald's, thanks to rising prices at many other, somewhat healthier food establishments.
Here's why avocado prices are dropping
Avocados are doing exactly the opposite of what many other crops are facing this year — they're producing a surplus of the mushy green fruit. In fact, it's an exceptionally "high-yield" year for many avocado farmers, CNN Business explains. This isn't just happening in California and Mexico, either. In fact, Australia and Peru are also noting higher-than-average crop yields. The crop quality is a major boon, with last year's supply described as "mediocre at best," in an article by Merlo Farming Group.
In addition, CNN Business says that brief stoppages and slow-downs of imports are no longer quite the same problem. Shipments have resumed at full force, adding further to the U.S. avocado supply. Another factor affecting U.S. avocado prices is that demand for the crop is down in Europe, as many consumers suffered sticker shock in recent months and years. As a result, those supplies are heading stateside, instead.
Of course, weary shoppers are fully aware that grocery prices can turn on a dime at any point. For the moment, however, here's hoping that everyone gets to enjoy some extra guacamole, or a slice of the green stuff atop a sandwich or hamburger. Your heart, not to mention your wallet, will thank you.