The Almond Board of California has released the February Almond position report with shipments of +155 million pounds compared to last year 139.9 million pounds for an increase of +10.8 percent. This shipment number was the second highest month for the month February that we have had for the industry.
January Shipments surprised a few people with how strong they were. We expected strong shipments this year in February, as last year in February we were dealing with the West Coast Port strikes and our sales in January of this year were quite strong. This shipment report is a bullish report in the eyes of many industry experts. India was off by 54% which will turn into a very bullish sentiment as their local market is lacking product.
- Exports +14.6%
- Domestic +3.7%
- China +13%
- India -54%
- Spain +58%
- Germany 0%
- United Arab Emirates -22%
YEAR TO DATE SHIPMENTS: +991 million pounds compared to 1.058 billion pounds last year for a decrease of 6.28 percent.
- Spain +30%
- Germany -21%
- Italy +35%
- China -7%
- India 10%
CROP RECEIPTS: +1.882 billion pounds.
CURRENCY: The Euro is at $1.10 dollars.
BLOOM: Bloom has finished. Overall bloom was strong. Excellent weather, good bee hours, and sporadic rains allowed for the trees to have a good bloom. We will have a better idea on the upcoming crop during the next two months. This initial indications are for a solid crop. Additionally, we have had good rains this season which has assisted our snow pack in the Sierra mountains.
PRICES: At these new levels we are seeing a growing level of demand materialize for both current and new crop at this time. Almonds are extremely favorably priced and we will start seeing a quicker sales on them at these present levels.