Almond Market Update 17.06.24

Date: 17th June 2024 Category: Latest News
Almond Market Update 17.06.24

May shipments of 226.1 million pounds met industry expectations, marking the second-strongest May on record with a 16% increase compared to last year. Export shipments were 160.4 million pounds, a 9% decrease from last month but up 14% on last year. With two months remaining in the crop year, total shipments have improved over last year’s pace, now 5.3% ahead for the season.   At this rate, shipments are set to bring the carryout below 500 million pounds.


India stood out with an impressive 32 million pounds shipped, a 64% increase from last year, raising year-to-date shipments by 21%. The upcoming festival season in July is expected to boost consumption. Prices are anticipated to firm as buyers secure supplies from the current crop for timely availability ahead of the Diwali holiday.

China/Hong Kong/Vietnam

While consumption challenges persist, an increase is expected with the Mid-Autumn festival in September. Following the release of the Subjective Estimate, there has been active buying for new crop shipments. Local inventories are low, prompting buyers to seek early shipments of their new crop purchases, positively influencing demand for the upcoming season.


Recent weeks have seen a surge in market activity, with buyers securing positions to maintain pipeline stocks for the rest of the crop year. Despite a 15% decrease in shipments to the region, totalling 48.2 million pounds, year-to-date shipments are 3.4% ahead of last season. Strong demand continues as the market shifts focus to new crop purchases.

Middle East

This region remains a bright spot, with shipments totalling 30.8 million pounds, a 136% increase from last year, bringing year-to-date sales 11.4% ahead of last season. Strong demand is driven by favourable pricing, and consumption is expected to remain robust, especially with an approaching festival in June.

via Blue Diamond Growers