Global Demand for California Almonds Remains Strong
Demand for California Almonds remains strong. Shipments for the month of November exceeded prior year by nearly 8%. Year-to-date, shipments continue to run ahead of last year at 7.4%.
Commitments for November rose by 149 million lbs., putting the 2013 California almond supply at 57% shipped and committed. The most recent estimates peg the 2013 California almond crop between 1.95 and 2.00 billion pounds.
Market demand in the US continues to be robust as shipments for November rose 8% over prior year and stand at 8.7% over prior year on a year-to-date basis.
Two of the largest export markets, China and India, showed declines against prior year of 48% and 31% respectively. Year-to-date, China sits at 16% behind last year while India is 22% behind last year.
Partly driven by a small Spanish crop, shipments to Europe were up 59% for November against prior year. Total yearly shipments are up 33.9 million pounds, 20% over prior year.
Exports to the Middle East have begun to show consistent signs of growth with November totals exceeding prior year by 88%. The region is up 20.8 million pounds, 41.6%. Growth is well distributed across the Middle East countries.
With demand for California Almonds firmly in place, prices are expected to remain solid as we progress into the bloom.