Almond Market Update March 2022
California's crop in the northern growing region has reported frost damage. The southern region, where most of the crop is situated, has seen optimal conditions for bloom. While there have been some harsh weather conditions, there has been little to no damage to buds, indicating that this year's bloom could be one of the most successful blooms in recent years. (Cardassilaris)
The optimism in the south is yet to be shared by central California crop regions as they need time to fully assess the situation of their crop.
It is estimated that global almond kernel production could reach 1.66M mt. On a yearly basis, there is a decline of 6.33% in crop receipts for the USA. Australia has seen a rise in production of up to 9%. The Almond Board of Australia expects production to continue to rise further 17% this year, and annual production may reach 185,000 mt in 2025. The board also expects demand to remain high and is confident to continue to see record export volumes. (Cardassilaris)
The situation in Spain is different to Australia. Exports have slowed down significantly. January saw a 23% decrease against last year January. This is directly linked to the Ukraine crisis as Spain's majority exports are to European countries. Spain saw a 4% decrease in exports to France and a 44% decrease to Germany in January 20/21 & 21/22 comparison. Overall, Spain has exported approximately 80,404 mt from August to January. This translates to a 12% increase in the same period in 2020/21. (Cardassilaris)