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Ripe for disruption: A new type of avocado has emerged

Ripe for disruption: A new type of avocado has emerged

Ripe for disruption

It’s big news for brunch enthusiasts: agricultural scientists at the University of California have unveiled their latest development, the product of more than 50 years of selective breeding — a new variety of avocado.

Trademarked as the ‘Luna UCR’, but known officially as the BL516, the Luna is the great-granddaughter of the Hass avocado, the world’s most popular variety, and has been bred to offer consumers high storage quality, excellent ripening, and, of course, great taste and texture.

However, when pitted against the Hass, the Luna is reported to have a few notable advantages for growers. Its smaller tree size allows for denser planting, yielding more fruit per meter, as well as minimal pruning and efficient harvesting. The global effects of climate change have also meant that the Hass’ intolerance to extreme heat (did you know that avocados can get sunburn?) and sensitivity to pests could make the hardier Luna a promising option for farmers.

Since the early 2000s, the US market has seen demand for avocados boom, with availability tripling from over 2 pounds per person in 2001 to more than 8 pounds per capita in 2021 — that’s 20 years of seeing millennials making more avocado toast and buying fewer houses.

To satiate our appetite for the fruit, the US relies heavily on imports, since domestic avocado production and acreage have slowly declined since 2011. Indeed, imported avocados now account for 90% of supply in the US — with the overwhelming majority of those coming from Mexico, a trade that’s worth some $3.1bn a year.

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The entrance of Allbirds seen from Hayes St. in San Francisco, Calif.

Allbirds, the once buzzy multibillion-dollar sneaker startup, is selling up for $39 million

That’s less than 1% of its peak market cap about four years ago.

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JetBlue is raising its bag fees as fuel costs squeeze airlines

JetBlue will reportedly hike its bag fees, as the cost of jet fuel continues to climb amid the war in Iran. It’s the latest example of carriers finding ways to push rising costs onto travelers.

Last week, United Airlines CEO Scott Kirby said that if fuel prices remain elevated, fares would need to rise another 20% for his airline to break even this year.

As CNBC reported, when one airline raises fees, others tend to follow.

Earlier this month, JetBlue hiked its first-quarter outlook for operating revenue per seat mile to between 5% and 7%, saying that strong Q1 demand helped “partially offset additional expenses realized from operational disruptions and rising fuel costs.” Now, the carrier appears to be making moves to further boost revenue to offset those costs.

Earlier on Monday, JetBlue rival Alaska Air lowered its Q1 profit forecast. The refining margins for the carrier’s cheapest fuel option — sourced from Singapore and representing about 20% of Alaska’s overall supply — have spiked 400% since February.

JetBlue did not immediately respond to a request for comment.

As CNBC reported, when one airline raises fees, others tend to follow.

Earlier this month, JetBlue hiked its first-quarter outlook for operating revenue per seat mile to between 5% and 7%, saying that strong Q1 demand helped “partially offset additional expenses realized from operational disruptions and rising fuel costs.” Now, the carrier appears to be making moves to further boost revenue to offset those costs.

Earlier on Monday, JetBlue rival Alaska Air lowered its Q1 profit forecast. The refining margins for the carrier’s cheapest fuel option — sourced from Singapore and representing about 20% of Alaska’s overall supply — have spiked 400% since February.

JetBlue did not immediately respond to a request for comment.

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