USDA releases their 2012 Subjective Almond Crop Estimate
May 06, 2012
On Thursday, May 3, 2012, the USDA released their 2012 Subject Almond Crop Estimate forecasting a crop of 2.0 billion pounds (kernel basis). This is approximately 1.5% below last year's production and is based on 780,000 bearing acres. After three record crops, most within the industry had anticipated a smaller crop. However, many independent estimates had placed the size of the crop somewhere between 1.9 and 1.95 billion pounds. With record consumption and a very small carryout, prices will probably remain firm. However, it should be remembered that in general, over the past several years, the size of the crop has generally turned out to be larger than the original estimate. Regardless, when it comes to nut meats, Almonds will continue to be the best buy.