Mission Produce: avocado prices fall in the second quarter, but a “firming up” is expected

By Josh Beckerman

Mission Produce Inc. said avocado volume increased while selling price declined for the second quarter ended in April. 30.

On the results of 2Q:

“Total revenue for the second quarter of fiscal 2021 was $ 234.7 million compared to $ 221.6 million for the same period last year, which represents an increase of 6 %, mainly due to a 22% increase in volume of avocados sold, average selling prices of avocados per unit. “

“Total sales of the International Farming segment increased 79% to $ 4.3 million in the quarter ended April 30, 2021, primarily due to the earlier timing of the avocado harvest season compared to the last year. “

On its outlook for the remainder of fiscal 2021:

“Looking ahead to the second half of fiscal 2021, we are moving into the southern hemisphere season where our Peruvian harvest comes in line. The growing season has been very productive, and we expect strong yields from our crop and with prices firming, we are in an excellent position to deliver a strong operational performance in the second half of the year, led by our International Agriculture segment. period from the third quarter to date, retail prices are stable, as well as consumption patterns compared to the previous year, which is common until the summer months. “

Write to Josh Beckerman at [email protected]

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About Natalee Broderick

Natalee Broderick

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