Leading Growth
Many almond growers are already in the throes of the busiest season for the almond industry. It’s harvest, a demanding time but also the best of the year.
We learned on July 5 the National Statistical Service (NASS) Objective Estimate for the California almond crop is 2.45 billion pounds. This is an increase of 6.5 percent from the 2.3-billion-pound May Subjective Estimate. It anticipates the coming crop will be a new record.
News of this bountiful crop brings excitement for Blue Diamond as we see potential growth opportunities for delivering on our mission. However, trade tensions create uncertainty for buyers in markets impacted by retaliatory tariffs on almonds. The co-op has been building its export business for over 60 years, and countries around the world recognize the quality of Blue Diamond almonds. Today, Blue Diamond exports to more than 90 countries. Our growers can rest assured the Blue Diamond team is working closely with our industry partners and federal advocates to monitor trade and tariffs closely. We are committed to working on your behalf to minimize the impact of increased tariffs on your businesses and families.
Despite the current challenges facing almond exports, Blue Diamond continues to demonstrate tremendous growth and is further positioning itself as a growth leader amongst other consumer packaged goods companies (CPG). For the second year in a row, Blue Diamond Growers was named to the list of fastest-growing midsize CPG companies in the U.S. ($1 billion – $5.5 billion in retail sales). The study, released by global management consulting firm Boston Consulting Group (BCG) and Information Resources, Inc. (IRI), ranked companies on a combination of three metrics: dollar sales growth, volume sales growth, and market share gains. More impressive is that the co-op is achieving this by growing its own products and brands, without relying on acquisitions.
Our ability to meet the needs of consumers in a tight U.S. market is an honor, and our grower-owners should be equally proud that Blue Diamond’s international CPG business is growing three times faster. While I am cautiously optimistic about the future of trade negotiations, the co-op’s strength in domestic and international markets drives us forward with confidence.
I wish growers a successful harvest as we celebrate all the pieces that make Blue Diamond a sustainable growth leader. With our crops, our growers, our business partners, and our team members; I am confident the best is yet to come!