Dec 19, 2023
Blue Diamond almond market sees export growth, despite 2023 challenges

Blue Diamond reports the almond market, as of Dec. 18, 2023, as a “robust performance” with November shipments reaching 238 million pounds, marking the second-highest November on record.

Sustained high demand in export markets, notably India, China/Hong Kong/Vietnam, Europe and the Middle East, contributed to this growth. India experienced a 14% increase in shipments, while China faced a 3% decline amid macroeconomic challenges. Europe saw a 17% increase in November shipments, anticipating a strong holiday season. The Middle East, a reliable market, exhibited a 22% rise in November shipments, according to a news release.Almond Board of California data chart on almond market

Despite a 2% dip in domestic shipments for November, year-to-date figures present a positive outlook, boasting a 9.6% lead over the previous year. Commitments, totaling 647 million pounds, decreased by 6.3%, while new sales increased by 4%, reaching 208 million pounds.

The crop, totaling 1.867 billion pounds, trails last season by 13%, with industry forecasts estimating a 2.40 billion pound harvest. Land IQ’s final estimate for 2023 almond crop acreage is 1,563,336 acres.

Almond Board of California data chart on almond market

In terms of market perspective, the November position report aligns with industry expectations, showcasing a strong start to the 2023 crop year. Export shipments outpaced the previous season, and despite a slight lag in domestic shipments, overall demand remains active, setting the stage for continued strong shipments in the coming months.

To read the full report, visit Blue Diamond Growers online.

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