1830 ET - Avocado companies Calavo Growers and Mission Produce both expect prices for the fruit to decline in the near-term. Mission said it expects industry volumes to be flat to slightly lower its fiscal year 2024 fourth quarter, compared to the prior year period. Prices are expected to decrease on a sequential basis, but remain about 15% higher than the $1.39 per pound average in the fourth quarter of its prior fiscal year, Mission said. Calavo said it expects margins in its guacamole business to improve in the fourth quarter as input costs recede. The company also said it expects to launch some new guacamole products during its fiscal fourth quarter. (stephen.nakrosis@wsj.com)
(END) Dow Jones Newswires
September 09, 2024 18:30 ET (22:30 GMT)
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