If you want to add some healthy fat to your portfolio, WSJheard has a good bet WSJWhatsNow
Listed on the Nasdaq in October, California-based Mission Produce offers a rare pure play on avocados, which the company sources from growers—mostly in Mexico, California and Peru—packs and distributes. Mission also has its own farming operations in Peru, Guatemala and Colombia, which produced around 11% of the avocados it sold in 2019.
Driven by health trends and the popularity of Mexican cuisine, U.S. per capita consumption of avocados—, which fights bad cholesterol—rose to 8.5 pounds in 2019 from 3.2 pounds in 2015, according to the USDA. Consumption fell in 2020, likely because the pandemic hurt demand from restaurants. Coming off record highs in 2019, avocado prices started to soften in the second half of 2020, as Mexico, by far the largest exporter, produced a bumper crop. Mission’s average selling price for the six months ending in April, the first half of its fiscal year, was down 15% from a year earlier—but gross profit actually grew 22% as it managed to sell more avocados. It also maintained a stable margin per pound.
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