Nuts

Almonds: strong sales in California

January 15, 2024 at 11:00 AM , Der AUDITOR
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SACRAMENTO. While exports and domestic demand for almonds picked up in December, the weather and the Red Sea Crisis are being closely monitored by the industry.

Strong shipments

December was a strong month for the US almond industry as monthly shipments climbed to 229 million pounds, which is 11% up on December 2022. Exports may have been the main driver, but domestic demand also picked up, which is welcome news for the industry. At 173 million pounds exports ranged 12% higher than last year and domestic shipments 8% higher at 57 million pounds.

Total shipments for the season stand 10% higher than in the same period last year at 1.14 billion pounds. While domestic shipments have flatlined at 298 million pounds, exports have surged by 14% to 846 million pounds. Shipments to nearly all key destinations have risen with the noted exception of Spain. India, by contrast, stepped up shipments from the US by 28% and the United Arab Emirates by 12%. Although heavy buying was noted in China throughout December ahead of the New Year celebrations, which start on 10 February, shipments to here are only 8% up.

US almond shipments in 1,000 lbs

Destination

2022/23

2023/24

Diff.

USA

296,825

298,360

0.5%

India

155,067

198,421

28.0%

Spain

78,453

77,628

-1.1%

UAE

62,123

69,505

11.9%

China/Hong Kong

63,927

69,097

8.1%

Germany

42,152

44,728

6.1%

Netherlands

33,892

43,376

28.0%

Turkey

30,664

36,680

19.6%

Italy

29,438

36,027

22.4%

Japan

27,305

31,685

16.0%

Others

222,094

239,246

7.7%

Total

1,041,940

1,144,753

9.9%

California almonds, 01/08-31/12
Shelled and inshell

Crop estimated at 2.4 billion pounds

With crop receipts ranging 6% lower than last year at 2.23 billion pounds the final crop size is estimated at 2.4 billion pounds rather than officially anticipated 2.6 billion pounds. Expectation is that this will help to bring down carry-over inventories and stabilise the market. While suppliers readily provide offers for shipments in the first quarter, they are more reluctant to issue offers for longer periods as they prefer to observe the weather during the crucial bloom period, which starts in February. November and December may have been dry, rain and snowfall have, however, improved in January so far. As tensions are escalating in the Red Sea delays and disruptions continue to be a great cause of concern. Costs are also surging as the Mideast conflict is impacting oil prices.

 

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price chart, almonds, natural, +14, Valencia
price chart, almonds, natural 13/14, Largueta
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