Almond Market: 3. Largest Shipment for September in History

Outlook of Almond Market: The Almond Board of California has released the Almond Position Report with September shipments of +217.6 million pounds compared to 188.3 million pounds last year for an increase of  +15.5 percent. These results make this September the 3^rd largest Shipment for September in History, in spite of a much smaller crop!  Shipping out the old crop was a big component of these shipping results along with heavy India Inshell shipments and Domestic shipments finally picked up the pace as well.  The industry will take these results as bullish news in spite of the strong dollar impacting the international markets, reports Summit Premium Tree Nuts.

Crop receipts

Crop receipts are now at a mere 625 million pounds compared to 978.5 million pounds last year for a significant decrease of 36 percent!  Yes, harvest has been late and slow, but this does validate that our crop is smaller than expected!

Harvest

The 2023 Harvest continues to move forward with many pollinators being shaken and collected these weeks. Most of the Nonpareil and Independence have been received now.  The sizes are definitely bigger overall!  Many packers are reporting their Nonpareil Kernels are sizing close to a 23 size. Monterey is having a higher issue of doubles.  Overall insect damage for many packers is averaging close to 5% SD.

Market

Receipts are much lower at this time for new crop than in years past.  A lot of that could be due to the later harvest and delays at the huller /sheller but we are also expecting a smaller crop than originally forecasted. Some packers/growers that market both almonds and walnuts have reported they saw loads of NP and Chandler walnuts being received at their facilities at the same time. That has not been seen in some time or ever in the almond and walnut industries. It gives you a good sense that the harvest and sizing of the almonds have been delayed.

The Almond markets have been steady for the past few weeks. Although demand is stronger on certain days and lighter on others, it is stable day by day. During September some packers took a pause from selling as they attempted to evaluate the quantity and quality of the incoming crop. While some were withdrawn others succeeded in moving overall pricing up. Almond prices for NPX and Carmel kernels have seen prices increase by 10-15 cents per pound.  Inshell prices leveled out as Indians realized they had purchased a lot already and are awaiting loads to arrive. India led the way with 1624 loads of almonds for 51.2 million pounds shipped in September compared to 33.6 million pounds last year!

An increase of 29 million pounds in sales

New sales in September were at +269 million pounds, an increase of 29 million pounds over last year!  The Industry is now at +33 percent sold for the new crop and carry out inventory, which is 1% higher than last year at this time.   Domestic shipments are a welcomed sight in September with 62.84 million pounds, which was the second strongest September shipment for domestic. There is limited availability of small-count kernels this season.

Anuga Trade Show

The Anuga trade show wrapped up Wednesday after 5 days. Overall demand was steady while at the show with mostly the Middle East coming into buy NPX and Independence. Some packers are reporting that their sales while at the show were very good and they are now in a more comfortable sales position based on their current receipts from new crops. Some demand coming in from Europe to cover prompt shipments. Europe has also covered some of their Christmas needs from Spain due to a discount on pricing versus California.

Outlook

All packers are reporting extremely strong shipments for October.  There are still some old crop loads shipping and many new crop loads shipping as well, which will result in a robust shipping number!  Most packers are fully booked for October at this time.

Please click to reach our marketplace