Almond Market Update – June 2025

The Almond Board of California has released the May 2025 Position Report

Shipments Overview

California shipped 211.8 million lbs. in May, a drop from 226.1 million lbs. last year — down 6.3% for the month, and down 1.9% YTD

Sales & Shipments Review

• May shipments were down modestly from last May but in line with expectations.

• May sales totaled 89 million lbs. — down 34% from last year’s 134 million lbs.

• Committed (unshipped) stood at 402 million lbs., down 13% from 460 million lbs. last year.

• Sold + Shipped reached 2.66 billion lbs., compared to 2.77 billion lbs. last year — down 3.7%.

• The industry sold position is 84.1% of total supply, versus 85.2% a year ago.

2025 Crop

The 2025 crop continues to develop well, with no major events to date. Growers across the valley are contending with increased pest pressure, especially from gophers and squirrels, while parts of the southern valley are also seeing a rise in rodent activity.

Disease pressure remains low overall, although Red Leaf Blotch is appearing more frequently — a disease more commonly reported in Australia. Mite activity is beginning to pick up, and Navel Orangeworm (NOW) moth counts are trending higher.

Water availability remains very good across the state.

Market Outlook

Pricing softened in May due to slower sales. Despite limited inventory and a likely tight transition, buyer patience pressured prices lower. Heading into today’s report, there was a slight pick-up in buying activity, particularly for inshell.  As inshell prices have come down, and less time remains to cover for DIWALI, more buyers have participated.

Exports continue to lead the way as the domestic market struggles with shipments down 7% YTD.

New crop sales totaled just 66 million lbs., down sharply from 173 million lbs. last year. Tariff uncertainty and mixed crop size expectations are likely weighing on early commitments.

The USD has weakened in recent months, reaching 1.16 to the EURO today.  This weakening dollar helps make almonds more affordable for various export markets.

The industry will now shift its attention to the upcoming NASS objective report on July 10th, which has proven more reliable than the subjective in recent years.

🎥 Video Market Update

Our video market update with Nicole Wurzel is posted below.
Nicole shares a concise and informative overview of current market dynamics.

Feel free to reach out with any questions or thoughts.

Further Info:

May 2025 Position Report

Upcoming News:

NASS Objective Crop Estimate & June 2025 Position Report – Thursday July 10, 2025