Almond Market Report - November 10, 2009
Today the Almond Board of California reported: 
October 2009 shipments were 168 million lbs. - a new record
- 6.6% above October 2008 shipments of 157.5 million
- Domestic shipments were up 2.5% and exports were up 8.2%
The market has been firm and pricing has risen approximately USD 0.10/lb. in the past month, depending on the variety and size.
SHIPMENTS/DEMAND:
Industry expectations were for strong October shipments and we think this figure met expectations. For the season, shipments are up about 8.8%. Of most significance continues to be China/Hong Kong where shipments are up 53% for the season and which contributed 8 million lbs. growth in October, out of the 10.5 million lbs. total growth in shipments for all destinations.
THE 2009 CROP:
Hulling and Shelling has continued to progress quickly despite a few rain storms including a very serious one 4 weeks back. Crop receipts as of October 31 were 968 million lbs., compared with 1 billion 20 million at the same time last year. NP receipts were 428 vs. 445 million lbs. We think this data is in line with our initial thoughts that the Nonpareil crop is larger than estimated by NASS, perhaps 20% off of last season instead of 26%, and the other varieties should come in less than estimated by NASS.
OUTLOOK:
Market sentiment continues to be bullish. Relatively high prices of all competing nuts continue to help almond demand. Expectations are for very strong November shipments. The final position report for the calendar year is expected to be released December 8.
We updated a few pricing graphs, which can be found here in case of interest.
For more information, contact Paul Ewing
