Almond Market Summary

Almond Market Summary January 9, 2015
We are pleased to provide the below almond market summary in response to the December shipping figures released by the Almond Board today. Our sales team is available to answer any questions, sales inquiries, or offer more detailed market analysis. You can find our full contact details at the bottom of this email. 

Thank you for your continued support.


The Almond Board of California has released its December 2014 Industry Position Report. Shipments for the month are 148.1 mil lbs. versus 156.6 in 2013.  December crop receipts are 1.805 bil lbs. versus 1.935 in 2013. Uncommitted inventory is 921.43 mil lbs versus 855.36 mil lbs in 2013.
Domestic shipments remain strong with 48.1 mil. lbs. shipped compared to 47.1 mil lbs shipped in 2013; total exports were 100.0 mil lbs versus 110.45 in 2013. Export shipments for the season, to date, are 539.50 mil lbs versus 643.97 mil lbs.
Since the holidays we have seen buyers more willing to book in the short term then CA processors willing to sell. In the past week NP inshell prices have increased dramatically due to bids out of India, yesterday saw limited buying as high as 3.30 FAS 70% SS (4.714 Total Kernel). The highest price for NP inshell previously for the year was 3.20 FAS 70% SS (3.57 Total Kernel) which was done end of September. NP kernels have also increased .05-.07 over the past week. 
The trajectory of the Crop receipts continue to indicate that the harvest will fall short of 1.9 bil lbs. Based upon December receipts our expectation is a total crop of 1.85-1.88 bil lbs. Sellers will refer to the receipts as a reason why prices should firm into the bloom period. Buyers will point to the increase in uncommitted inventory as an indication that the crop is undersold. What we can expect is continued hand to mouth buying as higher prices make their way to the consumer. European buyers will undoubtedly look to Spain as an alternative supplier as the Euro continues to weaken versus the Dollar, causing Spain to be more competitive then California in the European market. And, of course, we will hear the continued concerns regarding the drought and lack of chill hours as we move into the bloom period late this month/February.