Millennials beware: Australian avocado production has taken a dip.
Australia's avocado crop is estimated to be down 15 per cent in the 2024-25 season compared to the previous year, according to a global report by Rabobank.
The culprit is alternate bearing, in which trees can produce a lot of fruit one year followed by very little the next.
But Australians - particularly millennials stuck with the well-worn stereotype of spending their potential house deposits on smashed avocado toast - need not cry into their sourdough.
The nation's farmers were still expected to produce 128,000 tonnes of the green fruit, or about 20 avocados per person, for a year.
"Australia is experiencing a short-lived drop in avocado production due to the impacts of alternate bearing," the report said.
Avo go at this: production is predicted to bounce back in the 2025-26 season to a record volume of 170,000 tonnes.
Export prices went up in 2024 to $5.18 per kg, with China, Singapore, Malaysia, Japan and India the top markets for the Australian industry.
New avocado tree plantings have dropped off sharply across the nation, sitting at the lowest level since 1999 and signalling a plateau in Australia's crop size, the report states.
Nearly half of Australia's avocados are grown in Western Australia, followed by Queensland and NSW, data from Avocados Australia shows.
Production is often calculated on a two-year average due to the alternate bearing phenomenon.
Australian farmers can supply avocados year round, with the Hass variety available most of the year.
Shepard avocados hit the shelves when Hass production eases off in late summer and early autumn.
It's not just young Australians who can't resist the allure of an avo.
The global market has surpassed nearly $30.4 billion, with strong demand from consumers in the UK and Germany.
Global exports were set to expand in the next few years, forecast to hit three million tonnes by 2026-27, compared to one million tonnes just over a decade ago.
The growth was due to increasing supply from the world's top avocado exporters: Mexico, Peru and Colombia.
