Jun 19, 2023Blue Diamond Almonds provides market update
Blue Diamond provided its Blue Diamond Almonds Market Report – June 13, 2023, which indicated that the 196 million pounds of May shipments were in “the upper range of industry expectations.”
Laura Gerhard, vice president for Blue Diamond, shared that the shipments were 1% lower, compared to April, and were down about 24% compared to May 2022.
Gerhard indicated that exports were flat at 141 million pounds compared to April 2023, and declined 27% compared to 2023 figures.
Domestic shipments were also down 3% compared to April and 14% compared to 2022 data.
Shipments to India were approximately 20 million pounds for May 2023, according to the report, which is 42% less than May 2022.
The report also indicated that shipments to China and Vietnam were down 11% for May, but this market continues to remain 14% above 2023 numbers.
European markets declined 24%, compared to last year. According to the report “this market is now down 5% for the season.”
In the Middle East, demand continues to be strong and shipments to this market are up 23% year-to-date.
Domestically, the report indicated that the U.S. shipments continue to see a decline, year-over-year. Shipments domestically have declined 7% year-to-date. The report indicated that higher food costs have spurred the impact.
Read the full Blue Diamond Almonds Market Report – June 13, for the commitment and the uncommitted inventory data.
Overall, the report indicated the industry as a whole is looking for updates through the Objective Estimate, scheduled for July 7. Additionally, the late winter storms impact is still being monitored, as the report noted the industry anticipates less Nonpareils this year as well as a two-week delay in crop development, compared to last season.