Almonds market report

Yesterday the Almond Board of California released the March Position Report with shipments reaching +178 million pounds compared to +161 million pounds last year for an increase of  +10.6 percent.

The year to date shipments are now at +1.447  billion pounds compared to 1.153 billion pounds last year an increase of +25.5 percent.

For April most industry experts expect another strong month of shipments.  Expectations are for similar shipments to last year, which was when cheaper prices entered the market and shipments accelerated.

New Crop

Last week we received the latest crop estimates for the 2017 crop and first expectations are higher compared to previous year. The crop looks overall good and it seems the crops did not suffer any obvious damage from the extreme rains before and during the bloom. 

With more bearing acres, an increase in overall productivity and new plantings total expectations are around 2,27 billion Pounds, which is an increase of 4,5%.   

Conclusion:

With increasing crop estimates and remarkable better shipment figures we expect more availability in the market and higher stocks in available spot business. Question is if the demand for these stocks will keep increasing as well. Or will prices be adjusted marketwise?

Advice:

We advise to book your needs for the coming 2 months take a wait-and see attitude for the new crop offers. Depending on new figures, prices will be adjusted.

All prices are subject to final confirmation by Antares Commodities.

*             Other grades and varieties can be offered upon request.