INDEPENDENT NEWS

Avocado prices smash records

Published: Wed 13 Jun 2018 10:50 AM
13 June 2018
Avocado prices rose 37 percent in May to record levels after a small harvest, Stats NZ said today. However, prices fell for other fruit and vegetables, such as mandarins and broccoli.
The average price for a 200g avocado rose to $5.06 in May 2018, up 37 percent from $3.69 in April 2018. The price in May this year, up 50 percent from $3.38 in May 2017, is the highest ever for avocados since the series began. Stats NZ prices avocados per kilogram, and the latest movement reflects both higher prices and smaller fruit.
“Seasonality impacts avocado prices,” prices manager Matthew Haigh said. “Typically, avocado prices peak in July and August, as the main harvest season is from August to March.”
According to the New Zealand Avocado Growers Association, harvest volumes in the year to June 2018 were down to around half that for the previous season. This decrease affected the average retail prices of avocados in the past 12 months.
Overall, food prices remained flat in May, falling 0.1 percent after seasonal adjustment. Falls in fruit and vegetable prices were offset by rises in meat, poultry, and fish prices. Fruit and vegetable prices fell 2.0 percent in the month, influenced by lower prices for mandarins (down 35 percent), kiwifruit (down 39 percent), and tomatoes (down 6.5 percent). Meat, poultry, and fish prices rose 0.8 percent, influenced by higher prices for chicken (up 6.1 percent) and lamb (up 7.2 percent).
Fruit and vegetable prices fall from last year’s highs
Food prices decreased 0.1 percent in the year to May 2018, influenced by lower fruit and vegetable prices (down 10 percent). Prices fell for lettuce (down 52 percent), tomatoes (down 24 percent), and broccoli (down 43 percent). These falls follow large price increases in 2017, as New Zealand growers lost crops due to poor weather.
Despite the overall price fall, there were increases in restaurant meals and ready-to-eat food prices (up 2.9 percent), and non-alcoholic beverage prices (up 4.6 percent). The minimum wage increase of 75 cents to $16.50 an hour on 1 April 2018 may be a partial factor for these price increases.
Video
View our Food price index: May 2018 video.
For more information about these statistics:
• Visit Food price index: May 2018
• See CSV files for download
ends

Next in Business, Science, and Tech

GDP growth eases slightly
By: Statistics New Zealand
NZ first-quarter current account turns to surplus
By: BusinessDesk
Fonterra satisfied with Beingmate's response to error
By: BusinessDesk
Foreign buyer ban gets smoother edges
By: BusinessDesk
Govt declines application to mine conservation land
By: New Zealand Government
NZ economic growth slows in first quarter
By: BusinessDesk
Govt’s head in sand as economic growth slows
By: New Zealand National Party
Fonterra denies food safety issue for Chinese partner
By: RNZ
Fonterra seeking more details over Beingmate licensing issue
By: BusinessDesk
Record imports push current account deficit to 9-year high
By: Statistics New Zealand
Dairy product prices slip for seventh time in nine auctions
By: BusinessDesk
Foreign buyer screening law reported back
By: New Zealand Government
Overseas Investment Amendment a dog of a Bill
By: New Zealand National Party
Speaker rules out foreign buyer amendment
By: ACT New Zealand
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media