Mission Produce and Mr. Avocado Send the First Shipment of California Avocados to China

OXNARD, Calif. – March 15, 2021 – Mission Produce, Inc. (NASDAQ:AVO) (“Mission” or the “Company”), the world leader in sourcing, producing, and distributing fresh Hass avocados, today announced, with its partner Mr. Avocado, one of China’s leading avocado brands, the first-ever shipment of avocados to China from California.

“Mission was the first to send avocados to China from Peru, Chile and Colombia – and now we’re the first to send from California,” Steve Barnard, Chief Executive Officer and Founder of Mission Produce, said. “Our goal is to provide a year-round supply of the World’s Finest Avocados, and now we’re doing so with more volumes and availability than before.”

Market access of avocados to China from California is due to years of coordination, negotiation and planning between the California Avocado Commission, the United States Department of Agriculture (USDA) and the government of China.

"Sourcing from the premium source of California will open more opportunity for Chinese retailers to capitalize on the lucrative and healthy avocado,” John Wang, Chief Executive Officer of Mr. Avocado, said. “California avocados are high quality in late winter to early spring, which hits the market in perfect time to allow consumers the ability to enjoy a great tasting piece of fruit year-round.”

“We were the first to see the opportunity in China and to pioneer avocado consumption in the market,” Thomas Padilla, Senior Director of Export Sales of Mission Produce, said. “Increasing our presence in China increases our access to one of the most booming importers of U.S. agriculture in the world.”

Transit time from California to China is the fastest currently available for avocados, taking 14-16 days by vessel and one day by air. Mission and Mr. Avocado are the only shippers and receivers in China with one brand from multiple growing countries and have been in partnership since 2017. The Mr. Avocado partnership between Lantao, Mission and Pagoda currently owns one ripe center near Shanghai.

California avocados in China are expected to be available at Ole, Rainbow Supermarket, Aldi China, JD.com, Seven Fresh and Pagoda stores throughout China. The fruit will also be distributed to China wholesale markets through the Jiangnan Fruit Market in Guangzhou and the Huizhan Fruit Market in Shanghai.

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