A historic drought in California dried up the avocado supply and pushed up prices last year, executives with fruit supplier Limoneira told analysts this month, as reported by FoodDive.
Limoneira sold just 3,000 pounds of avocados in Q4, compared to the approximately 487,000 pounds it sold during the same time period last fiscal year. A severe lack of rainfall reduced "the overall size of the actual avocado fruit pieces" and pushed farmers to harvest the majority of the fruit in Q3, according to CFO Mark Palamountain.
The avocado and citrus supplier expects a robust turnaround in 2022 after recent winter storms bolstered snowpack in the Sierra Nevada Mountains. "That's going to go a long way to really filling up our agricultural canals and giving us access to additional water," CEO Harold Edwards said.