Avocado prices back to normal following May's record high

Source: 1News

Avocado prices are returning to normal as the new season’s produce hits the market.

Prices for a 200-gram avocado fell to $2.99 last month following a record-high $5.73 in May, according to Stats NZ information released today.

The $2.99 price tag is also 31 per cent cheaper than last year’s June figure.

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. 

Aside from avocados, Stats NZ reported a 17 per cent decrease in tomato prices from January to last month.

Fruit and vegetables fell by 2.1 per cent in June, 8.8 per cent lower than June 2018.

Stats NZ also revealed overall food prices fell 0.7 per cent in June, partly due to a 3.7 per cent decrease in cake and biscuit prices. 

Consumer prices manager Gael Price said the drop was most evident in plain biscuit varieties such as arrowroot and wine, which fell to $1.92 per 250g.

 “A number of specials on biscuits sent June prices crumbling,” she said.

Ms Price said clover honey prices were also down by 15 per cent over the year up to last month, driven by an increase in supply.

Clover honey prices peaked back in August 2017 at an average of $11.64.

Other drivers in the lower overall food prices include yoghurt, which fell 9.1 per cent, cheese, which is down 4.3 per cent. and butter - down 1.9 per cent.