Peru’s avocado exports have been hit by Russia’s invasion of Ukraine. In February 2021, Russia was the third-largest market for Peruvian fruits. According to analysis from produce consultancy FreshFruit.pe, Peru had been set to increase its avocado exports. But during the first two months of the year, export volumes of avocado were up just 1% Y-O-Y to 18,335 tons, while in value terms, they were down 11% to US$ 41 million.
In February 2021, Russia received 11% of Peru’s avocado, the third largest share. But the current crisis has resulted in a 49% drop in volume and a 34% drop in value of Peruvian avocado shipped to the Russian market, totalling just 989 tons (US$ 2 million) in February.
The report said that other markets have also been affected, particularly shipments to Spain and the Netherlands. Shipments to Spain totalled 1,727 tons, or US$ 4 million, 28% less in volume and 40% less in value. For the Netherlands, the volume is on par with last year, but its value is 17% lower.
The fall is in part due to a general inflation that has affected demand for products like avocado, and is also a sign that Peru’s produce exports suffer from a dependence on certain destinations.