Avocado lovers can rejoice, with prices for the fruit dropping to their lowest in almost three years.
According to Stats NZ information released today, avocado prices are at their lowest average price since February 2017. In October, they cost NZD 7.54 (USD 4.82) per kg. Avocado prices have been turbulent in 2019. May saw a record high of $28.67 per kg, acting consumer prices manager Fiona Smillie said.
New Zealand Avocado CEO Jenny Scoular told 1 NEWS in May that high demand and a growing export market paired with low supplies of the fruit drove prices up during that month. Meanwhile, prices for tomato, lettuce and cucumber also fell this month, typical of the season.
These falls contributed to a 4.7 per cent drop in fruit and vegetable prices in October. However, food prices have increased by 2.5 per cent in the past year due to price increases of restaurant and ready-to-eat foods (up 3.4 per cent) and grocery food (up 2.1 per cent).
Stats NZ revealed meat, poultry and fish prices are also up 4.2 per cent in the past year. Bacon prices continued to increase after the outbreak of African swine fever in China, Ms Smillie said.
Bacon prices are up 24 per cent in the past year, now at a weighted average price of NZD 13.37 (USD 8.59) per 700 grams. 80 to 90 per cent of bacon in New Zealand is imported. Ham prices are up 22 per cent for the year ended October, to a weighted average price of NZD 14.28 (USD 14.28) per kg. “Not all meat, poultry, and fish prices have seen substantial increases this year. Chicken breast decreased 2.2 per cent, to a weighted average price of NZD 12.51 (USD 8.03) per kg,” Ms Smillie said.
Source: News Now