Almond Market: The California Almond Board has released its monthly position report with the third strongest shipment for October ever at +247.40 million pounds compared to last year’s 214.61 million pounds for an increase of +15.3 percent! Shipments were extremely robust in light of the current world economy. Exports led the charge with 190 million pounds while domestic continued to lag behind with a mere 57 million pounds, reports Summit Almonds
| Million Pounds | Percent | |
| Domestic | 57.05 | -13% |
| Export | 190.35 | +27.7% |
| 2023 Million LBS | 2022 Million LBS | |
| India | 48.0 | 32.4 |
| Spain | 13.8 | 12.5 |
| China | 24.3 | 25.4 |
| Netherland | 7.7 | 5.3 |
| UAE | 19.0 | 10.4 |
| Türkiye | 13.4 | 7.0 |
Year-to-date shipments
677 million pounds compared to 631.2 million pounds last year for an increase of +7.25 percent.
Crop receipts
1.334 billion pounds compared to last year’s 1.656 billion pounds for a decrease of -19.47 percent. Yes harvest was delayed and we had some early rains that delayed the harvest, however, these numbers support the expert’s opinions that the crop may only reach less than 2.4 billion pounds rather than the Objective estimate of 2.6 billion pounds.
Market overview
Strong shipments and excellent new sales combined with a smaller overall crop size will lead to bullish sentiments in the almond market. Those who purchased earlier at the lower prices will be happier going forward. New Sales in October were at 250 million pounds. The Industry sold position for new crop and carry-in is now sold at 40.5%, while last year it was at 39.2%.
In October leading the charge was India with 1524 total loads shipped to them bringing their total for the new season to 121.8 million pounds, compared to last year at 88.4 million pounds, for an INCREASE of +38%! The industry had been expecting strong shipments in October with the remaining old crop heading out to various destinations combined with the new crop shipments.
Prices over the past month have started rising by 10 cents per pound on some kernel items in anticipation of the smaller crop combined with stronger shipments. Harvest is now complete across the state. Kernel sizes are BIG for Nonpareil, Independence, and Monterey, and we are even hearing reports of some Butte/Padres making sizes 22/24! The main sizes on the NP/IND/Mont are in the range of 23/25 up to 18/20. Smaller sizes will be in short supply this season.
We expect another strong shipment month for November. New Sales during the first 10 days of the month have been outstanding as well.
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