Almond Market Update 12.06.24

Date: 12th June 2024 Category: Latest News
Almond Market Update 12.06.24

May has been another strong month of shipments for California almond handlers, shipping over 226 million lbs, upping the tonnage 15.5% from the previous year. Domestic shipments had the biggest YoY increase at 19.5%, and export shipments were also up 6.35% on the crop year.


Last year India imported 291 million lbs of crop, and now it's reported that these figures are up to almost 354 million lbs in the current year. Diwali is nearly two weeks early this year falling on November 1st. This will put pressure to supply the holiday demand with what's left over the transition with a push to start the new crop year. India surpassing the 400 million pound threshold by the end of the crop year is certainly within reach and will likely lead to early export growth into the new year.

Western Europe

Import volumes dropped by -16.4% compared to the previous year. The annual growth slowed down, which aligns with a return to normalised buying patterns in Europe. The Netherlands and the UK are both up 27% on the year, however. Italy is now up just 1% on the year and Germany is flat. Spain, as the largest almond market in Europe, is down -3% on the year.

Middle East

Positive news from The Middle East, as they have more than doubled their shipments in May YoY. The region has rebounded from an uneven start to the year and is now 11% ahead of where it was a year ago. The UAE increased shipments in May from 2.6 million pounds a year ago to 13.7 million pounds this year. Turkey also outperformed last May doubling its shipment, figure while Saudi Arabia was up 59.2% compared to a year ago.


Figures for China have been the closest to matching last year's import figures but were still slightly under. The -24% decrease from a year ago is mostly due to the shortfall coming in the form of inshell products.


The transition period is tight and inventory is getting lower. Buyers being able to find whatever they desire 12 months out of the year, on the spot, does not appear to be the case any longer.  Buyers should exercise caution in having sufficient inventory to get through the transition.

via Select Harvest USA and Rpac Almonds