Almond Market Report - October 12, 2009
On Friday the Almond Board of California reported: 
September 2009 shipments were 134.2 million lbs.
- 2% below September 2008 shipments of 137.2 million
- Domestic shipments were off nearly 7% and exports were just slightly down
Pricing for most varieties have been rising for several weeks and Nonpareil pricing began increasing about 10 days ago.
SHIPMENTS/DEMAND:
There were mixed expectations for September shipments as September 2008 was such a strong month and we were coming off a very heavy August. For the season shipments are up about 10%, with most of the increase coming from exports.
THE 2009 CROP:
Harvest has progressed very quickly. It has gone smoothly thus far but some serious rain storms are expected this week. We expect the Nonpareil crop is larger than the 26% decline (450 million lbs. total) estimated by NASS. The other varieties (Carmel, Butte, etc.) look to be coming in significantly lower than the 10% decline (approx. 900 million lbs.) estimated by NASS.
OUTLOOK:
We have seen pricing firm further even following the release of Friday’s position report showing the 2% decline in shipments. There is a growing sentiment in the industry that the varieties other than Nonpareil are coming in well below the estimate and thus the crop is likely to come in below 1.35 billion lbs. This has contributed to the continued market firming.
The next position report is due to be released November 11, 2009
For more information, contact Paul Ewing
