Meanwhile, the monthly average price of an avocado has already climbed about 40% since January 2021, and consumers can now expect to pay about $1.36 per avocado, according to Zhengfei Guan, a food and resource economics professor at the University of Florida. If the suspension lasts more than two weeks, it can also weigh on the profit margins of companies that are highly dependent on the fruit as their stock runs out. Truist analyst Jake Bartlett estimates that avocados account for 5%-10% of Chipotle's(NYSE:
CMG)cost of goods sold and about 2% of El Pollo Loco's(NASDAQ:
LOCO).
Flashback: New growers are stepping into the void. Former financier stonedinvestor has reportedly purchased an Avocado farm in S. Africa & has a interest in another in Kenya. These new Avocados to market will be called High-Breds and stonedinvestor's new Co called Avotatstic Farms.
