Almonds-December Position Report 12.01.24

The Almond Board of California has released the December Position Report detailing shipments of 229.40 million pounds compared with 206.35 million pounds, up 11.2%

• Year-to-date, the industry has experienced a nearly 10% increase, indicating a robust performance. Shipments continue to be strong, and products are leaving the warehouse, culminating in a robust Q4 – the first such performance since 2020/21.
• Crop receipts have seen a modest decline of only 6%, suggesting a crop estimate of approximately 2.4 billion pounds, aligning with the anticipated range of 2.30-2.45 billion pounds.
• Since the beginning of the new year, prices have been steadily strengthening, driven by active participation from buyers in China, the Middle East, domestic US, and Europe.
• Despite the uptick in crop receipts from the previous report, California remains keen on selling and maintaining momentum in their sales. It's important to note that this report doesn't indicate any underselling by California, but rather emphasises the industry's need to keep the product moving and minimize the carryout.

via Minerva Global