Peru’s Avocado Exports Defy Production Drop with 27% Value Growth in 2024
Despite a challenging year marked by a decline in production, Peru’s avocado sector saw a remarkable 27% increase in export value in 2024, driven by rising international prices and strategic market placement. This growth underscores the fruit’s resilience as a cornerstone of the country’s agro-export industry, even as new stars like blueberries and grapes, and resurgent products such as cocoa and coffee, vie for attention.
Over the years, avocados have maintained a steady production level, enabling consistent growth in export volumes. The sector has effectively navigated recent global challenges, including the pandemic and adverse climate conditions, which caused temporary production dips. However, 2024 proved to be a turbulent year, yet one that ended on a positive note. Despite a 6% drop in production volume, the combination of higher international prices and efficient distribution led to a significant boost in export value. Total shipments reached 623,662 tons, valued at approximately $1.385 billion across all product forms. Fresh avocados accounted for over 93% of exports, followed by frozen avocados at 6%, and other processed forms at just 1%.
The production decline was primarily attributed to two factors: unusually high temperatures early in the year and a strategic decision by many growers to let their plants rest, aiming for higher yields in 2025. This reduced supply, coupled with market diversification efforts—particularly in Asia—and improved logistical planning, pushed prices up by nearly 35%, averaging $2.22 per kilogram.
Regional Contributions and Market Dynamics
In 2024, 16 regions across Peru contributed to avocado exports, with Lima leading the pack at 33% of total shipments, followed by La Libertad (27%) and Ica (21%). Together, these regions certified over 85,000 boxes for export.
Looking ahead to the 2025 season, which runs from February to September, expectations are high. With well-rested plants, production is forecast to surge by more than 23%, assuming favorable weather conditions. However, this growth brings its own challenges, particularly in maintaining price stability amid increasing competition. Mexico continues to expand its production annually, while Colombia has emerged as a formidable player, rapidly gaining market share. FreshFruit estimates that export values could rise by 12% to 15% in 2025, though external factors, such as potential U.S. tariffs on Mexican imports, could significantly impact key markets.
Global Market Trends
Europe remains the top destination for Peruvian avocados, absorbing 403,000 tons worth $913 million in 2024—a volume consistent with the previous year but with a 38% increase in value. Peru’s avocados are highly prized in Europe, often outperforming competitors like Mexico, the world’s leading exporter. However, Colombia’s aggressive market expansion, particularly in Europe, poses a growing challenge. In the U.S., Peru faced a 15% drop in export volume but achieved a 16% increase in value. The U.S. market remains heavily influenced by Mexican avocados, which dominate consumer preferences. Peruvian exports typically gain traction only when Mexico’s season ends.
The potential imposition of U.S. tariffs on Mexican avocados under the new Trump administration could create opportunities for Peru. However, the situation remains uncertain, with recent tariff threats paused for a month. Even if implemented, Peru’s export infrastructure, including the Chinese-funded megaport of Chancay, could complicate its position.
As the 2025 season approaches, Peru’s avocado industry stands at a crossroads, balancing optimism for higher production with the need to navigate a fiercely competitive global market.
