In 2023, Mexico witnessed a significant downturn in avocado exports, marking the steepest decline in 13 years, according to data from Banxico. Despite a 23.4% increase in export volume reported by the Agricultural Markets Consulting Group (GCMA), the total export value of avocados decreased by 10% annually, reaching US$2.9 billion from January to November.
This decline in avocado exports contrasts with the performance of other agro-industrial goods from Mexico. Beer led foreign sales with US$5.6 billion, followed by tequila with US$4.1 billion. Beef and beef products recorded a 9.4% growth, while tomatoes and berries also experienced increases in foreign sales.
The challenges faced by Michoacan, the leading producer and exporter of avocados in Mexico, were notable in 2023. Despite producing 72.8% of the country's total avocado production, Michoacan saw a dip in export value. However, the state remains crucial in supplying Mexican avocados during events like the Super Bowl in the United States.
Michoacan and Jalisco are the only states authorized to export avocados to the United States, Canada, and Japan. Despite the setbacks in 2023, the strategic positioning of these Mexican states and the continued global demand for avocados present opportunities for the industry to rebound in the future.
Additionally, the price of avocados surged in Mexico in the early weeks of the current year, surpassing MX$50/kg at various locations. This indicates potential changes in market dynamics and consumer demand, which could impact the industry's recovery moving forward.
Source: mexicobusiness.news