Monthly Archives April 2019

The California Almond Board March Position Report

The California Almond Board has released the Almond Position Report with shipments of +184.9 million pounds compared to last year 193.9 million pounds for a decrease of 4.6 percent.

EXPORTS              +124 mill lbs      -4.9%

DOMESTIC          +60 mill lbs         -4.1%

For the month of March, India has another strong month with an increase of 3 million pounds, while China had a decrease of 11 million pounds, Korea was up 3 million pounds, UAE finally had a decrease of 3 million pounds after many strong months in a row of shipments.  Spain was down 2 million pounds for the month while Germany dropped by 1 million for the month compared to last year.

YEAR TO DATE SHIPMENTS:  We are now at +1.588  billion pounds compared to last year 1.616 billion pounds for a -1.69 percent.

DOMESTIC account for 31% of all sales

EXPORTS account for 69% of all sales

ASIA accounts for 29% of all sales

EUROPE accounts for 26% of all sales

SUB SAHRAN AFRICA accounts for 10% of all sales

Western Europe               -7%

Middle East                        +2%

North Africa                       +164%

China/HK                            -31%

India                                      +4%

Spain                                     -5%

Germany                             -20%

Turkey                                  -35%

UAE                                       +8%

Saudi Arabia                      +45%

South Korea                       +15%

CROP RECEIPTS: Now at 2.264 billion pounds compared to last year’s 2.256 billion pounds.

MARCH SHIPMENTS and MARKET: The overall Almond market was active in March with new sales  147 million pounds.  Prices on Stds and SSR firmed up in the early part of the month, then stabilized, and during the recent week started to weaken a few cents per pound with Stds at 2.78 and SSR at 2.85 FAS.  Nonpareil kernels sales have slowed as most of the Middle East is well covered for the Ramadan Holiday with NP X 23/25 at 3.10 FAS.  Inshell prices definitely climbed through the most of March and have recent settled to 2.30-2.35 FAS for current crop.    The industry is now at 79.6% sold for the current crop and carry in at this time.

CROP: The new 2019 crop looks better than last year for the majority of the valley.  The Southern part of the valley ( Kern County) has one of their better crops and Fresno also looks good.  As we go up the valley we start to see some inconsistent orchards due to the rain and cool temperatures during the bloom.  Some growers report that their younger trees look good while others will state inconsistent.  Limited new crop sales have taken place thus far as buyer would like better prices and prefer to wait while growers would like strong prices.  One agency has announced their unofficial crop estimate for 2019 at 2.452 billion pounds and we expect another group to announce their unofficial crop estimate this week as well.

date:  Apr 11, 2019 comments:  Comments Off on The California Almond Board March Position Report
by:  Chris Wilding category:  Latest News Read More

Turkish Apricot Update 04/04/2019

2018 Crop · Exports in March were 8,386 tons, compared to 7,807 tons last year, an increase of 7.5% · 
Exports year to date are 75,276 tons compared to 74,910 tons last year, an increase of 0.5% · Average export price for whole apricots for March was $2675/ton FOB compared to $2924 for 2017 crop. Strong exports in line with expectations are being fuelled by the lowest prices since 2012. Year end exports are likely to end close to 2017 crop total exports which were 95,000 tons. With a further 7,000 to 10,000 tons of domestic consumption, carryover will once again be minimal.
The lira has been volatile over the past few weeks ahead of the local elections on the 31st of March.  The future direction of the currency is unclear, though there are no more elections for over 4 years, as such there is a window for the government to enact the necessary policies to promote economic recovery. The current exchange rate is 5.64 to the $. Following the frost of the 23-25th March the market in Malatya has pausedpending assessment of the damage.  We suspect there is short covering to be done when sellers reappear.
2019 Crop Bloom started around the 10thof March. On the 23 to 25th of March widespread frost saw temperatures between -2 and -5 C for several hours. At the time of the frost approximately 20% of the bloom had just set, mainly around the Karakaya Reservoir,  40% of the bloom was underway and 40% had not yet started. Therefore 60% of the crop was at risk of frost damage.
Significant damage is evident, and insurance companies have been called to assess damage. It is too early to quantify, but at this stage it looks unlikely the 2019 crop will reach the tonnage of the past 2 years.

date:  Apr 04, 2019 comments:  Comments Off on Turkish Apricot Update 04/04/2019
by:  Chris Wilding category:  Latest News Read More