The Almond Board of California has released the May Almond Position Report with record breaking shipments of 178.72 million pounds compared to the last year’s 158.29 million pounds with an increase of 13%. 5% of the 2019 new crop is sold as well, showing that buyers are trying to position themselves for the needs until the end of 2019.
Total YTD commitments are also increased 24% compared to the previous year’s same period, many of the packers in California are already sold out and 2019 crop is expected to be late, so we expect there will be a few offers for shipments until mid-September.
Since the report released with strong shipment figures, US Almond prices firmed up around 3-4% for current crop.
This year, Subjective Crop Estimate for California Almonds announced as 2.50 billion pounds (1.13 million tons) and The Objective Estimate will be released on July 3rd, 2019, probably somewhere between 2.50 – 2.60 billion pounds.
The Spanish almond harvest for 2019 is also expected to be very good, similar to 2018. Crop will start being collected by mid-August, and will be available during September 2019.
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