As seen in the past couple of market updates featured on our social media, the 2016 Super Bowl took its toll on the need for avocados in the produce industry. Weeks after the Super Bowl had come and gone, the industry continued to work through what appeared to be an extended overstock situation. And just last week, when we saw the harvest and trading patterns return to normal, the markets finally regained their stability.
While this may seem like an uncommon occurrence, changes in supply and demand for avocados are regularly caused by events and holidays year round.
According to The Packer, “The Super Bowl, Cinco de Mayo and the Fourth of July remain the top avocado holidays…Other occasions gaining momentum are St. Patrick’s Day, March 17, and March Madness, the National College Athletic Association Basketball Tournament that runs this year from March 15 to April 4.”
During the weeks after the 2016 Super Bowl, we saw high supply in stores due to overstock in preparation for the big game, which meant demand for restocking avocados was low. While the Super Bowl is one of the most highly anticipated events in the industry, The Packer also noted that there was one year when the Fourth of July actually topped Super Bowl numbers. Only time will tell if this year’s upcoming Fourth of July will affect the markets in a similar way to the Super Bowl, but we’ll be sure to continue posting market updates on our LinkedIn company page.
Prior to the 2016 Super Bowl, The California Avocado Commission projected 139.4 million pounds of avocados would be consumed. Since it turned out to be one of the biggest events in history for avocado consumption, we’re looking forward to the demand that upcoming avocado holidays will bring.
At Stonehill Produce, we’re proud to say that our Mexican Hass avocados are always in season, so avocado demand is consistently met with a steady supply. To learn more about conducting business with us, please contact us today!