December 15, 2018
The California Almond Board has released the November Almond Position Report with
shipments of 237.6 million pounds. This is an all time November shipment record and as
a comparison, last year’s number was 228.4 million pounds.
This news is not a surprise to the industry. The industry was expecting strong shipping
numbers and the firmer recent market had factored a lot of this in already.
Domestic USA shipments were 64.22 million pounds +5.1%
Export shipments were 173.41 million pounds +3.6%
MAJOR REGION COMPARISON BELOW.
Year to date shipments are down 3.15% however many industry experts had been
stating the crop would be smaller than the objective estimate of 2.45 billion pounds. This
expectation of a smaller than forecasted crop looks set to keep the market firm for the
near future, with the next major event being the bloom in February 2019.
The 2019 crop is expected to be around 10% larger than the 2018 crop. The current crop
is fully sold and the all eyes will now be on what will happen specifically on Australian
origin almonds if the trade war between USA and China continues. Australia currently
has a substantial advantage on exporting almonds to China.