If you’re part of the one per cent of the population that doesn’t love avocados, you’re in bad luck as they are absolutely everywhere.
In recent years, the humble avocado has been freed from the confines of the grocery store and can be found in all its picture-perfect glory on social media. Just take a scroll through your Instagram app, and I can guarantee that you will see dozens of snaps of the Millennial staple, avocado on toast, artfully edited and filtered.
However, the avocado has taken a couple of hits of late. Baby Boomers have set their sights on the humble fruit, claiming that they are to blame for our generation’s financial instability and inability to enter into the property market. Now, I have to hold up my hands in surrender here, as I do spend a considerable amount of my food budget on avocados… but not, 50 grands worth, as the deriding older generation alleges.
Regardless, Baby-Boomers and Millennials alike are set to be pleased as our dreams of home-ownership look more promising given Bloomburg’s announcement that the price of avocados is set to fall.
2017 was a tough year for avocado lovers as the wholesale cost of importing Hass avocados from Mexico more than doubled. This was not only due to increased demand for the fatty fruit, but because growers in Mexico and California experienced dry weather conditions, which impeded the possibilities of producing bountiful crops.
Bloomburg points out that that this problem is set to ease next year, as trees will be entering the higher-yielding half of their two-year cycle. Avocado trees are traditionally alternate bearing, which means that one year they produce a bigger load of avocados, and the next year a smaller one. And as 2017 has been the smaller crop year, we can expect plenty more of our favourite snack in 2018.
In fact, there have already been improvements. The wholesale cost of Haas avocados from Mexico, the biggest supplier to America, has already dropped more than six per cent. Certainly, the Mexican inspired fast-food chain, Chipotle has experienced an increase in revenue in the last few months.
On a financial call this week, Chipotle’s Chief Financial Officer, John Hartung stated that whilst the increased price for avocados cut into earnings in the beginning of 2017, they have started to receive greater amounts of produce recently, easing their financial burden.
Robert Bongi, the Georgia-based director of procurement and pricing at the Produce Alliance asserts that “prices [of avocados] in the foreseeable future will stabilize a little” and that we won’t be seeing such a “sharp incline” again as “growers are trying to put more trees in the ground to keep up.” But he also adds that we can’t ever expect to see “10 avocados for a dollar”.
Indeed, avocados are too popular for that now. Statistics from the U.S Department of Agriculture (USDA) show that on average each American ate around 7.1 pounds of avocado in the 2015-2016 crop season. This is a significant figure as it is more than double the amount consumed a decade prior.
Regardless, this is heartening news for us Millennials. I don’t know about you, but I am looking forward to the day when my weekly burrito doesn’t bankrupt me, after all you just can’t have Mexican food without a side of guacamole. Either way, it would be nice if Baby Boomers stopped regarding us as nothing more than “special-snowflakes” with chronically empty pockets, and hopefully this will help.