Almonds

May 18, 2017

The Californian Almond Board acreage report which was released at the end of April is
indicating a 6% increase on 2016 (940,000ac) where total bearing acres is finally going to
crack the 1,000,000 acre mark – which illustrates a continuing trend of increased
plantings. The subjective estimate released on the 10th May is indicating a crop that will be
2.8% larger than 2016 (2.2 billion v 2.14 billion) even though yield per acre will be 3.5%
down (2200lbs v 2280lbs) due to the increased acreage. The subjective forecast is
certainly more conservative than the earlier forecast by TNT (Terra Nova Trading – Almond
Traders) and we wait to see what impact this will have on the market. If April shipment
numbers are anything to go by, demand will continue to keep pace with supply particularly
when almonds are one of the more affordable nuts.