Peruvian avocado overproduction has flooded the market, putting downward pressure on regional avocado prices, according to Tridge.

Despite the fact that some foods are necessities, consumers are cutting back on their intake due to price inflation and worries about food security.

"The market is impacted by numerous variables. First off, concern over a worldwide recession is dimming the outlook for demand "explained Nam.

Tridge has been informed by food traders and other market participants that certain hedge funds have begun to sell off their stakes in commodities.

"The price of numerous agri-products is still high compared to average years, despite the fact that we can state that

concern over food inflation has partly subsided. Certainly, market conditions are being impacted by restrictive measures "said Nam.

Due to supply chain disruptions, there is still a lack of food, and demand for food is still high. The price must drop.

The market is still being impacted by supply chain disruption, which is increasing the cost of various goods, according to Nam.