Almond Market Update – March 2022
As of the end of February, the Almond industry was down 16%. This comes as no surprise further to the slow demand and shipments being a bottle neck for packers’ ability to supply. Commitments were also down 3%, which in many sellers’ eyes is a miracle given the major hesitation to buy for many commodities. This could well in time influence the price, further adding to the downwards pressure on Almond pricing we have seen lately. Total crop receipts are now 2.89 billion tons, falling within the expectations of 2.9 – 2.95 billion tons. California is now 67% booked against total supply. The USA domestic market at the end of February was down 24% for the month, which again is no surprise considering various issues around the world.
Key Californian figures are as follows:
February Shipments were 199 million tons, down by 15% over the same period last year.
Shipments to the end of February were 1438 million, down by 16% over the same period last year.
Sales to the end of February were 2295 million, down by 12% over the same period last year.