The wholesale price of avocados is up 125% since the beginning of the year, according to the American Restaurant Association, which analyzes U.S. Agriculture Department data. American shoppers are paying at the checkout counter too: The average sales price for an avocado was up 31% over the first half of this year, up to $1.17 per avocado. Two key drivers are behind the summer price surge: A weak harvest this year and insatiable demand for avocados. This year's California avocado harvest is projected to be down 44% compared with last year, according to the California Avocado Commission, an advocacy group for the state's industry. Avocados are known as "alternate bearing crops" meaning one year there's a large quantity of small avocados and the next year there's a small quantity of large avocados, according to the commission.

Source: CNN September 09, 2017 14:03 UTC