Almond Review - December 2014

Today the Almond Board of California released the November 2014 position report.  

November shipments were 145.5 million lbs. vs. 198.5 million lbs. last season.

Down 26.7% Overall.  

Domestic shipments off 12.4% 

Exports off 32.7%

DEMAND:  

November shipments were below industry expectations.  The slow-downs at the California ports contributed to some of the shortfall in exports. 

Western Europe was off 31%, as more of the consumption shifted to the discounted European almonds.  The Asia/Pacific region was off 33% including a 48% decline in China, who recently has entered the market. 

Commitments were 455 million lbs., off 5%

THE 2014 CROP:

Crop receipts reached 1.728 billion lbs.  The majority of shellers are finished and most handlers are done receiving.  After receiving today's report, it is more certain that the final receipts should fall well short of last season's final crop receipts. 

 

2015 Buds

OUTLOOK:

The industry is approximately 60% sold or shipped.

For the season, shipments are off nearly 13% with domestic  off 1.5% and exports off 17.6%.  For the export markets, we don't know how much of the decline is because some buyers are importing less due to the price differential in destinations and origin, and other similar short-term market issues, and how much is due to actual decreased consumption with the record high prices. 

Today's shipment figure seems below expectations, although the crop receipt figure also seems lower than anticipated. 

Posted here is the November 2014 Position Report

We recently had some much needed storms and more are expected late this week.  Posted here is a Water Supply Update 

The next position report is due for release Friday January 9

Please feel free to call or email us with any questions or feedback. 

Paul Ewing      Dennis Soares