This week, the Almond Board released the August shipment figures.
The report came as a surprise, better than expected new sales numbers and reasonable shipments too. This has basically kept the market stable.
- California shipped a slightly better than expected 154.2 million lbs., down from last year’s 168.5 million lbs. Domestic shipments (the world’s largest market) were just slightly behind last year’s overwhelming figures at 67.04 million lbs.
- India shipped 22.2 mm lbs and was up 8% from last August.
- China too performed well with shipments of 4.6 mm lbs and was up 3%, although the shipments were likely heavy as more tariffs implementation increases urgent shipment needs.
- Vietnam (China grey imports) was up 165% with 2.67 mm lbs. These figures were aided with old crop supplies of poor grades.
- Europe overall lagged 32% behind last year with 32.4 million lbs. vs 47.4 mm lbs. last year. With trade wars found elsewhere one must believe Europe lagged so dramatically due to poor confidence in pricing but most likely due to virtually no California type inventory (as the 2017 crop has been sold out for some time).
It seems that most world markets are buying nearby and to actual requirements only. The 2018 crop is not heavily sold at all but 2017 crop carryover is extremely low.