Avocado prices skyrocket, tariffs not to blame

The price of avocados is up 129 percent due to an increase in global demand. (Source: CNN)

(CNN) - If you want to invest in something that is exploding in value, forget Wall Street, look at avocado futures. Wholesale prices on the pitted fruit are more than double what they were just a year ago.

Avocados from Mexico cost a whopping 129 percent more. Most of that is being passed onto consumers, with retail prices almost doubling.

Analysts attribute the spike to growing global demand and a natural seasonal dip in production both in Mexico and California.

It may pay to curb your guacamole craving for a while. Prices are forecast to come down in about a month when production in Mexico ramps back up.

Almost 90 percent of the avocados you buy come from our neighbor to the south.

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