The almond market has experienced a significant shift in supply and demand dynamics, leading to a decline in almond imports from America. California, a major producer of almonds, has reported lower production this season, resulting in only 475 containers being released to India in June compared to 1218 containers last year. As importers refrain from selling at low prices due to reduced arrivals, almond prices have surged.
Upward price trend
The season for almond kernels has commenced, and the availability of light goods has gradually decreased. In California, the shortage of goods has led to increased bookings, resulting in an upward price trend. Moreover, unfavorable weather conditions in California have raised concerns about potential polls in the upcoming crop.
While the number of containers arriving in the country is lower than last year’s June figures, the market has experienced a shortage of customers over the past two months. The rupee crunch has contributed to delays in almond kernel shipments at Indian ports, allowing big importers to purchase them at lower prices. The early bird catches the worm, and as a result, these importers are in a favourable position. The prices are expected to hit the roof with the arrival of the new crop in California. Despite the current supply challenges, the almond market remains stable, with no imminent risk of a price fall.
The almond market is characterized by dynamic fluctuations in supply and demand, making it essential for traders and importers to keep their ears to the ground and stay informed about changing trends. As the almond season progresses and the new crop arrives in California, market dynamics will continue to evolve. And according to market whisperers, the changing seasons and increased consumption over the next three months are expected to add fuel to the fire further and drive almond prices upward.