Good news, home buyers: Avocado toast is maybe going to get a little cheaper. After a long and difficult summer, it seems that avocado prices may be dropping at last! Prices for the creamy little fruit hit a record high, thanks to bad weather in Mexico during what was already an off year for avocado trees. (Avocados develop on a two-year cycle; this was not our year.) But Bloomberg says we can all settle down, because reprieve is coming: The wholesale cost of Hass avocados has already dropped more than 6 percent since reaching a record-breaking high in July.
“Prices in the foreseeable future will stabilize a little, and you won’t see a sharp incline,” said Robert Bonghi, the director of procurement and pricing at the Produce Alliance. “Growers are trying to put more trees in the ground to keep up,” he said, but don’t get too excited just yet. “You’re not going to see 10 avocados for a dollar.” After all: It’s a reprieve, not a miracle.
Still, there is hope in the world, at least regarding avocados. While there are no signs that demand will slow anytime soon — Americans have a “seemingly insatiable” appetite for the fruit, eating more than double what they ate a decade ago, according to the latest USDA figures, and the global market is booming , too— the supply crunch is expected to ease up. For one thing, 2018 is an on year for avocado trees, and according to at least one California avocado farmer, it’s shaping up to be a good crop, thanks to rain this past winter.