22/01/2024 | Mexico

Mexican avocado exports perform worst result in 13 years

Recent data from Banco de México reveals that the avocado exports from Mexico have faced their worst performance in 13 years, driven by an increased market supply.

Over the initial eleven months of the past year, Mexican avocado exports amounted to $2.929 billion, showing a 10% decline compared to the same period in 2022. This double-digit contraction marks the steepest drop since 2010, when Mexican avocado exports plummeted by 16.4% during the first 11 months.

Despite the decrease in the value of avocado exports, data from the Grupo Consultor de Mercados Agrícolas (GCMA) unveiled a 23.4% increase in annual volume. In contrast to other significant agri-food products for Mexican exports, avocados were the only commodity to experience a decline in value in 2023, slipping to the fifth position among the top agro-industrial goods sold abroad.

For the period of January to November, tomatoes secured the fourth spot in exports, generating $2.813 billion in foreign sales, marking a 17.5% increase compared to the first eleven months of 2022. Berries totaled $2.663 billion in exports, showing a 1.3% rise in the annual comparison.

source: elfinanciero.com
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