The California Almond Board has released the January position report with shipments of +235.9 million pounds compared to 229.6 million pounds last year for a +2.7 percent change. The +235.9 million pounds shipped in January is a new record for the industry! Exports had a new record with 173 million pounds shipped out also.
Million Pounds | Percent |
| Domestic: +62.89 | -5.4% |
| Export: +173.03 | +6.1% |
Country 2023 | Million Lbs 2024 | Million lbs |
| INDIA | 39.0 | 34.7 |
| SPAIN | 16.9 | 19.4 |
| NETHERLAND | 12.0 | 8.5 |
| U.A.E. | 16.2 | 9.3 |
YEAR TO DATE SHIPMENTS
Are now at +1.380 billion pounds compared to 1.271 billion pounds last year for a +8.58 percent Increase.
CROP RECEIPTS
Are now at 2.391 billion pounds compared to last year’s 2.475 billion pounds for a -3.39 percent decrease. We are now on track for a crop of 2.45 billion pounds.
MARKET
The Almond market in January was very strong. Demand was fantastic with new sales of 235.9 million pounds. The Industry is now sold for the new crop and carry in at +60.3 percent. Demand came in from the Domestic and Export markets during January. All prices continued to rise during the month. With the excellent new sales, most packers are tracking very favorably for their February shipments compared to last year. Demand for Domestic picked up in January. Domestic USA customers have accelerated their pick-ups, which means almonds are being consumed and the US market continues to buy as far out as they can. Many of the retail customers that use small size almonds and with short supply of small sizes , US customers will continue to pay a premium for the smaller sizes. Experts believe this Summer will be even more difficult locating smaller sizes.
SNOW PACK
The State Wide snow pack is now 73% of average. The recent rains have assisted in starting to build up the snow pack.
RAINS
The Sacramento area is now at 11.03 inches of rain since October 1, compared to historical averages of 10.59 inches of rain, so we are slightly ahead of the normal pace for rains.
BLOOM
The bloom is getting started. As you drive up and down the valley, there are a few trees on the outsides of orchards starting to flower. On average, it is only 1% in bloom. However, with the weather expected to be in the mid to low 60s for early next week, we will see more trees in bloom by the middle of next week. At the end of next week, the forecast calls for rain for Thursday- Saturday which is not ideal.
OUTLOOK
February shipments look to be up compared to last year. This bodes well for the industry to continue to reduce the ending inventory. Most experts are predicting we could see the carry out at a mere 450- 480 million pounds, when compared to the past few years at approximately 800 million pounds.
Source: Summit Premium Tree Nuts
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