Get ready to pay more for Mexican avocados https://t.co/5OojxVnCP5— Bloomberg (@business) 31 de mayo de 2019
After President Trump made threats with increasing taxes on Mexican goods for up to 25%, Mexico retaliated with producers in Michoacan, the heartland of Mexican avocado production, stating they won’t lower their prices to offset tariffs. With the consumers absorbing the price rise.
This ultimate will affect the buyers in the USA, with producers and sellers in Mexico foreseeing the cost being passed on to U.S. consumers. “Trump doesn’t know what he’s doing,” said Michoacan-based producer Humberto Solorzano, who is also a founding member of AvoPrice, a platform to monitor prices real time.
The last time Trump threatened Mexico on immigration with a border-closing warning in April, a gauge of avocado prices skyrocketed as buyers stockpiled.
Do you like avocados, ONTD?