Almond Market Update – January 2026

The Almond Board of California released the December 2025 Position Report

Shipments Overview

California shipped 245.8 million lbs. vs. 233.1 million lbs. December of 2024 – up 5.4% for the month and down 6.5% YTD

Regional Demand:

Sales & Shipments Review

• December sales totaled 196.7 million lbs. — up 8% from 182.5 million lbs. a year ago.

• Committed (unshipped) stood at 496 million lbs. — down 12% from 561 million lbs. a year ago.

• Sold + Shipped reached 1.57 billion lbs., compared to 1.71 billion lbs. a year ago — down 8%.

• The industry sold position is 50% of total supply, versus 54% a year ago.  This is assuming a 2.7 billion lb. crop.

2025 Crop

Crop receipts reached 2.57 billion lbs. on USDA receipts (2.512 on Almond Board receipts).

There were rain delays that pushed off more receipts into December than expected.  This pushes the range of industry expectations up to about 2.65 to 2.7 billion lbs.

Market Outlook 

Kernel pricing is down about $.05/lb. from a month ago, while inshell pricing is relatively flat.  Nonpareil inshell now commands a premium over kernels.

Inshell Supply remains a concern.  Early season low inshell prices, and slow demand relative to kernels, led to decisions by growers and packers to shell additional product out.  At RPAC, our inshell supply for the 2025 crop is 32% below the 2024 crop inshell supply and we are done receiving.

December sales were surprisingly strong, as buyers had a lot of coverage to do.  It was met with good selling support, thus pricing was flat to slightly down despite all the buying.

December shipments were an all-time record for exports and nearly a record overall, down 4.3% from the record set December 2020.  The 2nd best shipment month of this crop year, down only 1.4% from October.   The Middle East led the way as they covered for an early Ramadan.

Demand is likely the key to the market for the next 4 weeks, then we enter bloom and weather conditions could have more influence on the market.

Almonds 101: 

For Buyers interested in learning more about variety and quality options for California Almonds, please check out our Video:

Video Market Update

Watch Nicole Wurzel’s Almond Market Update for a concise summary of these dynamics and insights:

Please reach out with any questions or market feedback.

Best Regards,

Paul Ewing   Dennis Soares

Further Info:

December 2025 Position Report

Upcoming News:

January 2026 Position Report – Thursday February 12th, 2026