Almond Market Update – February 2026
The Almond Board of California released the January 2026 Position Report
Shipments Overview
California shipped 206.1 million lbs. vs. 228.6 million lbs. January of 2025 – down 9.8% for the month and down 7.0% YTD
Shipments continue to reflect timing and logistical flow rather than a true slowdown in consumption.
Regional Demand:
U.S. -17.3% (-17.9% YTD)
Exports -7.1% (-3.2% YTD)
Western Europe -17.9% (-3% YTD)
India +0.5% (-12.3% YTD)
Middle East / Africa +1.7% (+5.2% YTD)
China / Hong Kong / Vietnam -3.4% (-7.8% YTD)
Japan +1.2% (-9.0% YTD)
South Korea -17.0% (-4.0% YTD)
Central / Eastern Europe +18.5% (-4.3% YTD)
Canada -32.0% (-6.5% YTD)
Latin America / Caribbean -28.0% (-23.8% YTD)
Sales & Shipments Review
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January sales totaled 298 million lbs. — up 25% from 239 million lbs. a year ago. The largest sales month of the season.
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Committed (unshipped) stood at 588 million lbs. — up 3% from 572 million lbs. a year ago.
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Sold + Shipped reached 1.86 billion lbs. compared to 1.94 billion lbs. a year ago — down 4%.
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The industry sold position is 59.6% of total supply, versus 61.5% a year ago. This is assuming a 2.7 billion lb. crop.
2025 Crop
Crop receipts reached 2.645 billion lbs. on USDA receipts (2.63 on Almond Board receipts).
Receipts are on track for a crop in the range of 2.7 billion lbs., very similar to the 2024 crop.
Market Outlook
Buyers stepped in aggressively given the lower pricing and weaker USD, making it the 2nd best January on record (**Correction from earlier stated “record”). Many regions are low on stocks and were covering for nearby. This wave of buying suggests that underlying demand is stronger than the 7% YTD decline indicates, and shipments should improve going forward, especially in February.
Inshell Supply remains a concern for India and the price gap to kernels has widened.
Attention turns to bloom. Bee hives are available but hive strength remains a concern. We’ve experienced some cold wet weather, and have a break in the rain before additional storms expected for early next week.
Almonds 101 Video 2:
For Buyers interested in an overview of the California Almond Industry, please check out our latest industry 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:
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February 2026 Position Report – Thursday March 12th, 2026