Today the Almond Board of California released the April 2015 position report.
April shipments were 151.1 million lbs. vs. 137.7 million lbs. last season.
Up 9.7% Overall.
Domestic up 15.5%
Exports up 6.3%
Shipments were expected to be strong for April. The domestic figure is still quite impressive and the biggest monthly jump we have seen this season.
India was up 66% for the month and 26% for the season - incredible growth for a price sensitive market. The Almond Board has made a big commitment to India in recent years. This TV Commercial is an example of how markets are expanded and what the Almond Board does with some of the grower assessments.
Recently, China, India, Japan, and Europe have all been actively buying new crop. There is more or less parity in pricing between the 2014 and 2015 crops.
Commitments were 365 million lbs., up 14%.
THE 2015 CROP:
The California crop is developing well and continues to be on track for a very early harvest. There were no surprises with the recent NASS estimates of 890,000 acres and 1.85 billion lbs.
Expectations for Spain's upcoming crop vary from slightly to significantly up. The agricultural organizations, via the National Committee for Dried Fruits, came up with an estimate of just 5% above last season's 108 million lbs., while some expect the crop could reach 160 million lbs. We hear Australia is harvesting a tad above last season, about 165 million lbs.
The industry is approximately 82% (1.765 billion lbs.) sold or shipped. Uncommitted (Unsold) inventory is 393 million lbs, down 9.4% from a year ago.
With today's report the bullish sentiment should continue.
Recent light rains were very welcomed, though the water supply remains extremely low. For more related info please see attached Water Supply Update
Posted here is the April 2015 Position Report
Upcoming dates of interest:
Next Position Report - Thursday June 11
NASS' Objective Estimate - Wednesday July 1
Please feel free to contact us with any feedback or questions.