The days of paying too much for guac might finally be over ... for now, at least. According to recent data, the cost of avocados is dropping, even as the price of other groceries continue to rise.
Recently, CNN reported that the wholesale price for avocados has decreased by 35% year-over-year (i.e., this time last year). It has also dropped by 67% from its peak during the last week of June 2022, according to data from Rabo AgriFinance.
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As a result, in grocery stores, the average price of avocados has dropped by 2.6% in September compared to one year ago.
So, what's the deal? According to CNN, there's currently an extreme surplus of avocados. This is caused by myriad factors, including high crop yields and geopolitics. Also, due to pandemic-related closures in China and the Russia-Ukraine conflict, avocados that would have normally been shipped to China and Europe have also been diverted to the U.S.
The avocado oversupply is predicted to continue until the middle of 2023, according to the CNN article. Avocado toast, anyone?
Tips for storing avocados:
Due to the price drop of avocados, your guac and avocado toast will be easier on the wallet — but it's still worth practicing good storage techniques to extend the lifespan of your fruits. After all, it's always possible that the price will skyrocket earlier than predicted ... you never know!
To store raw avocados, keep them away from direct sunlight and heat. To properly store cut avocado, coat the flesh with olive oil and keep it in an airtight container in the refrigerator. This will prevent oxidation, a chemical process that causes browning.
If you like using avocados in smoothies, you're in luck. If you find a particularly good deal, consider stocking up on a few extra pieces and freezing them. They won't be as creamy as fresh avocados, but they're great for making smoothies super creamy.