Almond Update
Today the Almond Board of California reported: 
March 2010 shipments were 107.3 million lbs.
- Slightly above March 2009 shipments of 106.2 million
- Domestic and export shipments were both up slightly
The market has continued fluctuating as sellers’ perspectives on the crop have been evolving. Most recently the market has been firmer though with limited trading. Growers and buyers have generally been patient, which has made for an inactive market.
SHIPMENTS/DEMAND:
Today’s report brings shipments for the season to 1.06 billion vs. 918 million last season, up 15.8%. The
Chinese market continues to work through large inventories - the timing and extent of their return to the market should have a noteworthy impact on shipments April forward. Last year April-July they imported around 28 million lbs.
THE 2009 CROP:
Crop receipts as of March 31 were 1.395 billion lbs.
THE 2010 CROP:
At this point our expectation is for yields similar to last season and a small increase in volume would likely be due to an increase in acreage and the more productive average orchard age. We do not expect a huge increase in bearing acreage as more old orchards were removed this past winter. The crop is maturing in a normal manner without any significant frost, disease pressure or other major concerns. Growers are generally investing to fertilize and farm well. The Nonpareils appear to be the weakest part of the crop. The center part of the state
shows the most inconsistency and looks to be the worst, while the north and south look like they could have a larger crop than in ‘09.
OUTLOOK:
Once again this position report is likely a non-event. The NASS subjective estimate is due May 6 and the next position report is due May 11.
For more information please contact Paul Ewing
