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.