Sep 19, 2023Blue Diamond Almond releases September market update
Laura Gerhard, vice president, discussed the latest Blue Diamond Almond Market Update in a Sep. 19, 2023 email.
Gerhard shared that shipments for August exceeded industry expectations at 212 million pounds. “This was up 13.6% to last month and 7.1% off last year’s record shipment. This was the industry’s second largest shipment number for the month of August in history. Domestic shipments were 61.4 million pounds, up 8.6% to last month but down 6.2% to last year. Export shipments were 150.1 million pounds, up 15.7% to last month and 7.5% off compared to last year.,” Gerhard detailed in the email. G
Gerhard’s email also indicated that shipment so India were flat, at 22.5 millionpounds. China, Hong Kong, Vietnam shipments were down compared to last year. “A slow start was expected given the delayed California almond harvest as well as sufficient inventories in China to cover demand for the upcoming Mid-Autumn festival,” the email detailed.
In August, the European markets noted a 2% increase compared to last year and is relatively stable, according to Blue Diamond Almonds update. The report also indicated the there was a 32% decline in shipments to the Middle East markets compared to last year.
Domestically, the market update note that there was a 6.2% decline compared to last year and the “lowest August figure since crop year 2016.” Blue Diamond detailed that inflation has impacted pricing on food and also has impacted consumer purchases.
“As supply chains and inflation outlook are beginning to stabilize, the U.S. Market has ample opportunity to ramp up shipments in the coming months,” the report shared.
The Blue Diamond Market Update also noted that uncommitted inventory starts the year at 35 million pounds, a decline of 86.1% compared to last year is “primarily a result of low receipts.”
The report indicated that new sales were 31% higher than 2022, at 256 million pounds.
For more information on the August crop receipts, crop concerns, and market perspective, read the Blue Diamond’s Market Update and Bloom Reports.
The Position Report from the Almond Board of California is also available online.