Monthly Archives August 2019

Almond Board July shipments

The California Almond Board has released the July Almond Shipment Report with RECORD JULY SHIPMENTS of +154.1 million pounds compared to 143.8 million pounds last year for an increase of +7.2 percent.

DOMESTIC         62.87 million pounds     +4.9%

EXPORT              91.32 million pounds     +8.9%

2018 CROP YEAR TO DATE SHIPMENTS:  The final shipment data for the 2018 crop is at +2.264 billion pounds compared to 2.251 billion pounds for an increase of +0.56 percent.

CROP Year to date total shipments

  • India                                 +16%
  • Spain                                -4%
  • Germany                          – 18%
  • Western Europe              -2%
  • South Korea                     +12%
  • Turkey                               – 30%
  • U A E                                 +9%
  • China/HK                          -25%

The final crop for 2018 crop is at +2.269 billion pounds.  We basically shipped the entire crop which was produced this past year.

CURRENCY: Volatility, potential interest rate adjustments, internal country conflicts, and trade wars seem to be highlighting all discussions.

  • 1 Euro is at $1.12 dollars
  • 1 Dollar is 7.04 Chinese Yuan
  • 1 Dollars is 71.12 India Rupee
  • 1 Dollar is 5.60 Turkish Lira

The Objective Crop Estimate is now at 2.2 billion pounds significantly lower than the Subjective Estimate of 2.5 billion pounds.  When this was announced in early July all prices jumped significantly ( increased 30- 40 cents per lbs for kernels) due to the concerns for a shortage of almonds in the coming crop.  Over the past month we seen all prices slide back approximately 10-20 cents per lbs for kernels and now more demand is starting to come into the markets as buyers are beginning to purchase new crop.  The Crop estimate is at 2.2 billion pounds yet many buyers and some growers believe the crop to be closer to 2.4 billion pounds.  Thus it is unknown what the real crop will be for a few more months until harvest is almost completed.  New sales during July were at  155,619,260 pounds.

Harvest has begun up and down the state of California during the past week. Normally we would begin the end of July and this year it was the 1st week/2nd week of August for many to begin.  It is extremely early to make any comments on sizing or coloring at this time.

Based on the position report, we are now at +16 percent sold based for new crop on a 2.2 billion pound crop and +15 percent sold based on a 2.4 billion pound new crop.

date:  Aug 15, 2019 comments:  Comments Off on Almond Board July shipments
by:  Chris Wilding category:  Latest News Read More

Walnuts July shipment report

The California Walnut Board released the July shipment report on Friday. Total shipments were 27,532 tons, up 3% from last June shipments of 26,739 tons. Domestic shipments were up 11.49% and exports were down 10.57%. Domestic shipments YTD are 223,591 tons, up 15.49% and exports YTD totals 425,903 tons, up 6.64%. Total YTD shipments are now at 649,494 tons, up 9.53% from this stage last year.

Using historical averages for August from 2016-2018, the estimated carryout is 57,584 tons.

Since the last report, and as discussed in our market update last week, the subjective packer estimate for the 2019 crop came out at 691,000 tons. This comes from a range of packer expectations between 680,000 and 700,000 tons. Note this is nothing official, and the official NASS estimate will be released in a few weeks. Some business has been done on new crop, JL Chandler inshell trading from $1.20-1.25/lb. FAS CA basis. Middle East seemed to been the most active, with India, Turkey and Europe feeling out the market as well.

date:  Aug 15, 2019 comments:  Comments Off on Walnuts July shipment report
by:  Chris Wilding category:  Latest News Read More

News on Turkish VS Californian Raisins

There has been obvious discussion recently covering raisins, specifically Turkish. It has been highlighted that the United Kingdom are not favourable of Californian raisins due to there large premium.

However, with Californian Raisin prices equaling out with Turkeys Raisin prices, it is worth considering that customers in the United Kingdom may considering running back to the golden state Raisins, conspiring with its extensive marketing possibilities and better flavour profile.

date:  Aug 02, 2019 comments:  Comments Off on News on Turkish VS Californian Raisins
by:  Sian Koster category:  Latest News Read More