Almond Update
Today the Almond Board of California reported:
January 2010 shipments were 122.1 million lbs. - a new record
- 31.8% above January 2009 shipments of 92.6 million
- Domestic shipments and exports were both up over 30%
Following the December shipment figure release, pricing jumped significantly. In the past few weeks the market has been sloppy with much less activity.
SHIPMENTS/DEMAND:
Today’s report brings shipments for the season to 841 million vs. 696 last season, up over 20%. Going forward if Feb-July shipments keep pace with last season, carry-out would be in the range of 200 million lbs. If we ship similar volume as last Feb-July, or heavier, availability of certain varieties, grades and sizes may get tight during the August/September transition period.
THE 2009 CROP:
Crop receipts as of January 31 were 1.362 billion lbs. While limited receipts will still trickle in, this shows the impressive accuracy of NASS’ objective estimate of 1.35 billion lbs.
OUTLOOK:
Bloom is fast approaching and most attention is turning toward the weather and bee activity. We see very limited bloom in the area so far. Next week’s forecast calls for warm sunny weather which should help bring out the blossoms and then storms are expected starting the following week. Stay tuned as forecasts this far out can change often.
The next position report should be released March 10.
For more information, contact Paul Ewing
