Almond Market Report
June 13, 2011
Record May shipments and a late crop have caused most sellers to pull back while they evaluate their positions. Based on May shipment figures, the industry shipped almost 42% more almonds in May 2011 than they did a year ago.
About the same time, the Almond Board announced that they were pushing back the release date for their quantitative crop estimate to July 6th because the crop has not matured enough due to milder than expected weather during the first half of the year. Some within the industry have indicated that the crop could be as late as, or possibly even later than, last year's crop.
Together, the two announcements have many suppliers concerned about product availability, especially for the emerging markets in Asia and the Middle East. While Almonds continue to provide the best value of any nut for the dollar, unless the crop turns out to be much larger than originally forecast, or not as late as currently projected, prices will continue to firm in the face of tighter supplies.