Bloomberg reports that Mexico Hass Avocado prices soared 35% today - the biggest daily spike since early 2009 - following headlines from the Trump administration that threatened to shut the Mexican border.
As we noted previously, the President & CEO Steve Barnard of Mission Produce, a global avocado distributor, told Reuters that Americans would face a severe shortage of avocados within one month upon the border shutdown, adding that, "We would be out of business for a while."
"You couldn’t pick a worse time of year because Mexico supplies virtually 100% of the avocados in the U.S. right now," Barnard told Reuters.
"California is just starting and they have a very small crop, but they’re not relevant right now and won’t be for another month or so."
However, while it's all very exciting, the surge has pushed avocado prices up to the same level they were at in 2017 at this time of year...
And as Bloomberg notes, the spike may be due to increased demand in anticipation of border closing, although President Trump has retreated from his threat to shut the border.