ALMONDS MARKET UPDATE JANUARY 2021
The market for almonds trade soars upwards across the board for all items with a strong demand from both Europe and the Middle East on both nearby & distance positions.
California have been more accommodating and have been participating on the later positions (providing that buyers will be willing to pay premiums over February & March).
This is not proving to be a final notice for buyers who have been ardently looking into 2021 crop this week.
Across the industry, everyone is hoping for more rain during January, what with reservoir levels below average for this time of year, forecasted storms during December did not deliver on predicted precipitation. The wish for more rain will dissipate through February into March as we enter bloom for this year.
Next week we strongly anticipate California to post a strong shipment and commitment number which continues the chain of record shipments. A first for this season, there will be an spotlight on crop receipts, bringing the first true reflection on the total size of this seasons crop.
The Indian market has remained stable following the Christmas and New Year holiday season. There have been a myriad of issues with logistics causing containers to be delayed for 3-4 weeks.