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Australia will need to both consume and export more avocados as the nation’s growers navigate a period of soaring production growth over the coming five years, specialist agribusiness bank Rabobank says in a new report.

This year alone, ‘per capita (person) supply’ of avocados is estimated to be up 26 per cent on the previous 12 months to 4.8 kilograms – equating to 22 avocados for every Australian.

In The ‘Avolanche’ of Australian Avocados, the bank’s outlook for the avocado industry, Rabobank says a significant maturing of avocado trees in the past season – primarily in Western Australia and Queensland – has resulted in a bumper crop, causing a national oversupply and seeing retail prices fall to a record low of $1 each in June last year and again early this month.

Retail prices for 2022 remain tracking at 47 per cent below the five-year average.