Almond Market Update
The Almond board of California has released the much-anticipated Almond Position report.
The report has shown record shipments of +6.89% in comparison to last year’s 247.1 million pounds.
The industry has been anticipating a record shipment report and this has been attained. Exports have shown to reach 202.95 million pounds
DOMESTIC +62.55 million pounds -8.3 percent
EXPORT +202.95 million pounds +13.4 percent
- INDIA +26 mill lbs vs 26.7 mill lbs last year -16% crop year to date
- SPAIN +20.1 mill lbs vs 20.5 mill lbs last year +4% crop year to date
- GERMANY +14.7 mill lbs vs 11.7 mill lbs last year +28% crop year to date
- CHINA/HK +28.6 mill lbs vs 26.2 mill lbs last year +29% crop year to date
- U A E +17.5 mill lbs vs 6.8 mill lbs last year +165% crop year to date
- TURKEY +11 mill lbs vs 4.2 mill lbs +157% crop year to date
- S KOREA +6 mill lbs vs 4.9 mill lbs last year 0% difference compared to last year
YEAR TO DATE SHIPMENTS: +609.4 million pounds compared to 570.1 million pounds last year for an increase of +6.89 percent.
- Americas +5 percent
- Asia +29 percent
- Europe +25 percent
- Middle East /Africa +12 percent
CROP RECEIPTS: +1,590 billion pounds compared to 1,553 billion pounds last year for an increase of +2.36 percent. Most industry experts still predict the crop to reach 2.35 to 2.45 billion pounds, up over the July Objective Crop Estimate of 2.2 billion pounds.
The Californian harvest is now complete, the crops in Bakersfield and Fresno are up, however Modesto and Chico areas are down. Overall it seems the quality is very good. Fresno and Bakersfield areas have seen lighter colors a lower insect damage, whilst North Modesto areas have seen larger sizes.
October saw record sales, an increase of +6.67% over last year’s 276,509,335 pounds. The Industry is now sold at +48.7 percent based on a 2.4-billion-pound crop and +52.7 percent sold based on a 2.2-billion-pound crop.
Prices during October climbed on Stds-5% reaching $3.00 per lbs FAS, NP Extra #1 23/25 staying between 3.25-3.30 per lbs FAS, Cal SSR at 3.05- 3.10 FAS, BP SSR at 3.08- 3.12 per lbs FAS, NP Inshell SS 70 at 2.25- 2.30 FAS, and Blanch Slice/Slivers at 3.80 per lbs FAS. The Middle East continues to buy and ship in advance of Ramadan next Spring, resulting in record shipments, to make sure they have enough product in to supply requirements.
On following this, November looks very promising. Expectations show it will be another extremely strong month for shipments.