The One Food Item That’s Getting Cheaper Despite Record-Breaking Inflation
Despite record-high inflation, avocados have decreased in price due to a sudden surplus in supply coming from Mexico.
Inflation has evolved into a global problem. In the United States, rates have reached above 8%. The effects that figure has given rise to are evident in virtually every purchasable good or service, and this is particularly evident in what people are paying for groceries, but not if you’re buying avocados.
Avocados are the one food item that has actually gone down in price. CNN reported that the decrease in price can be attributed to a surplus in supply. That is welcome news considering a lack of supply has largely characterized commerce since the onset of the pandemic.
Prices for avocados have seen a decrease of approximately 35% compared to the first half of 2022. Additionally, avocados are nearly 70% cheaper than they were in June. Even when pitted against last year’s prices, the nutrient-rich fruit is 2.6% cheaper, according to statistics collected by the market research firm NielsenIQ.
The surplus in supply and subsequent price drops are predicted to continue until at least mid-2023. In some areas of the country, the oversupply of avocados is so evident that they are actually being given away free of charge. For instance, in Philadelphia, a local food distributor handed out upwards of 300,000 free avocados to residents who wanted some.
So why are there suddenly so many avocados when there seems to be a complete lack of virtually everything else? It has to do with a variety of factors. However, the two most prominent reasons have to do with geopolitical relations and harvest yields.
The United States gets about 92% of all avocados from Mexico. Earlier in the year tensions grew between the US and Mexico after a US official based there was threatened. This caused shipments of avocados to come to a halt.
Then towards the middle of the year, in April, shipments of avocados were slowed down considerably due to an increase in commercial truck inspections from Mexico along the Texas border. As a result, once the trucks were cleared, shipments began to flood the market, leading to a significant surplus all at once.
Additionally, things might have evened out eventually, but it just so happens that avocado yields in Mexico were fantastic this year. This is certainly welcome news considering that the effects of climate change have stunted the supplies of other produce across the world.
Thankfully, in this case, large harvest yields coupled with a fluid supply chain have birthed a surplus of avocados nationwide. It seems like avocados have become the one saving grace in an economy that has been otherwise crippled by inflation’s unceasing chokehold.
Also, since the surplus in avocados is expected to last into 2023, there will be plenty to go around for the Super Bowl in February. Parties should be filled will guacamole galore!
Come to think of it, given their availability at present, perhaps avocados should be added to the Thanksgiving table, too!? They might just be the one food item that everyone can be thankful for this year because it’s likely the only one that everyone can actually afford!
