Almonds: highly successful export season
August 13, 2024 at 12:20 PM ,
Der AUDITOR
Dip in July shipments
At 179 million pounds US almond shipments many not have been quite as strong as last year in the final month of the season, yet they are in line with expectations given that supplies are tight. Monthly shipments in fact ranged 4% lower than in July 2023. Exports thereby declined by 3% to 126 million pounds and domestic shipments by 6% to 53 million pounds. Total shipments, by contrast, finished the season 5% higher than last year at 2.56 billion pounds. Domestic shipments thereby rose a bit by 2% to 728 million pounds and exports by a more dynamic 6% to 1.96 billion pounds. Inventories now stand at 505 million pounds, which is 36% less than last year. As official estimates predict a 13% rise in production to 2.8 billion pounds total supplies should roughly range at 3.3 billion pounds in 2024/2025.
India not only maintained its position as leading export destination for US almonds but also increased shipments sharply by 21% last season. Contrary to this, shipments to Spain dipped a bit by 3%, whereas exports to the United Arab Emirates surged by 31%.
US almond shipments in 1,000 lbs |
|||
Destination |
2022/23 |
2023/24 |
Diff. |
USA |
716,355 |
728,063 |
1.6% |
India |
331,077 |
400,186 |
20,9% |
Spain |
193,785 |
188,485 |
-2.7% |
UAE |
121,170 |
158,478 |
30.8% |
China/Hong Kong |
143,384 |
106,002 |
-26.1% |
Netherlands |
87,586 |
107,626 |
22.9% |
Germany |
114,948 |
107,216 |
-6.7% |
Turkey |
77,889 |
100,430 |
28.9% |
Italy |
83,677 |
86,893 |
3.8% |
Japan |
87,280 |
86,464 |
-0.9% |
Morocco |
63,045 |
77,682 |
23.2% |
Others |
544,417 |
544,445 |
0.0% |
Total |
2,564,613 |
2,691,980 |
4.7% |
California almonds, 01/08-31/07 |
Excessive heat in California
Unlike last year, when the 2022/2023 crop was shipped well into the season new crop sales were already clearly up in July. Quality is an issue for the remaining stocks and popular varieties and grades are difficult to obtain. Prices are expected to rise further. With harvesting about to start industry representatives are growing a bit nervous about the persisting hot weather. Although the heat means that the harvest will start on time, irrigation is still required.
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