UNITED STATES (WSYR-TV) — If you want to invest in something that is exploding in value, forget Wall Street and look at avocados.
Wholesale prices on the pitted fruit are more than double what they were just a year ago. Avocados from Mexico cost a whopping 129% more than they did last year.
Most of that cost is being passed on to consumers.
Analysts attribute the spike to growing global demand and a natural seasonal dip in production in both Mexico and California.
Prices are forecast to come down in about a month when production in Mexico ramps back up.