Mission Produce sees Q2 avocado volumes relatively flat

The company said, “The industry is expecting avocado volumes to be relatively flat in the fiscal 2024 second quarter versus the prior year period. Industry volumes from Mexico are expected to taper off in the latter part of the quarter as the season nears completion. California harvest volumes should begin to build toward the middle of the quarter, followed by small amounts of Peruvian volume later in the fiscal second quarter. Avocado pricing is expected to be slightly higher on a sequential basis and be approximately 10%-15% higher than the $1.30 per pound average experienced in second quarter of fiscal 2023. Harvest timing shifts relative to last year have extended the company’s Peruvian blueberry season this year. As a result, approximately 20% of the harvest will be sold through in the fiscal second quarter, whereas the season was substantially complete in the prior year period. Sales pricing is expected to decline sequentially in the fiscal second quarter in response to increased industry volume resulting from the expectation for other source regions to begin seasonal harvests on a normal cadence.”