Guac Relief: Avocado Prices Tumble Ahead Of Super Bowl

Guacamole, wings, pizza, chips, and beer dominate the typical Super Bowl menu, as the weekend becomes one of the world’s highest food-consumption sporting events.

We have good news for consumers. First, as we reported earlier, PepsiCo announced it will slash prices by 15% on snack brands such as Lay’s and Doritos.

The second piece of good news is on the avocado front. Prices in Mexico have plunged, down more than 19% from a year earlier as of the end of December.

Bloomberg reports a bumper Mexican harvest after heavy rainfall has driven record US imports ahead of the Super Bowl, pushing supplies higher while driving prices lower, a perfect mix for millennials in the K-shaped economy.

The US sources nearly 90% of its avocados from Mexico, mostly Hass, with current retail prices ranging from 70 cents to $1.50 each, well below Covid-era highs.

“That has never happened before,” said Alvaro Luque, president and chief executive officer of Avocados from Mexico.

“Last year we had great rain, so the fruit not only was abundant, but the sizing of the fruit was very good,” Luque added.

Demand has spiked from millennials and Gen Z, he said, as there is no real substitute for avocados: “If you want guacamole, there’s only one option.”