Jun 17, 2024Almond shipments reach 226.1 million pounds, an increase over last year
On June 14, 2024, Blue Diamond Growers released its May almond market update. In its report, it noted that shipments of 226.1 million pounds met the industry’s expectations, and it is at an increased level over last year’s shipments by 16%.
Domestically, almond shipments were reported at 65.6 million pounds, while export shipments were 160.4 million pounds — a decline of about 9% the report noted. Despite this decline, the report from Blue Diamond Growers shared optimism that exports are still up by 14% over last year’s totals.
“With two months left to go in the crop year, total shipments continue to improve over last year’s pace and are now 5.3% ahead for the season,” the Blue Diamond Growers update stated. It also shared that the shipments are expected to “drive the carryout below 500 million pounds.”
Overall, India has impressed the industry with its 32 million pounds of shipments, which has increased. Shipments to the China/Hong Kong/Vietnam region totaled 9.1 million pounds, which is 12% lower than last year.
Commitments are at 460.8 million pounds, new sales have increased and according to the report, transition to new crop is getting tight.
“Assuming a 2.44-billion-pound crop, shipments and commitments represent 88% of total supply versus 80% last year,” the report indicated.
Almond industry stakeholders will review the Objective Estimate, which will be released on July 10.
Read more about the almond market domestically and globally in the full Blue Diamond Growers June 14 update.