Feb 14, 2024

Blue Diamond Growers releases January Position Report

The Feb. 13, 2024 Almond Industry News Digest from Blue Diamond Growers provided its January Position Report, which marked a record-setting month for the almond market with 236 million pounds in shipments, showing a 3% increase from the previous month and last year. Laura Gerhard, vice president for Blue Diamond Growers, provided the update along with a market perspective.

EXPORTS

Exports surged to a new monthly record of 173 million pounds, up 12% from last year, while domestic shipments performed strongly at 63 million pounds, up 11% from the prior month but down 5% from last year. Overall, total shipments maintained an 8.6% lead over last year’s pace, Gerhard detailed in the report.

SHIPMENTS

International

Shipments to India reached 39 million pounds, reflecting a 12% increase from last year, driven by strong buying activity in the first half of the month. China, Hong Kong  and Vietnam experienced a quieter buying period due to the Chinese New Year holiday, with shipments down 14% from last year, according to the report. Europe saw a 4% increase in shipments, with Western Europe driving growth. Middle East shipments increased by 8%, though challenges persist due to Red Sea issues.

Domestic

Domestic shipments came in at 62.9 million pounds, down 5% for the month, with new sales declining by 24.9% compared to the previous year. Total commitments decreased by 24%, with new sales down 33% compared to last year.

Crop reciepts

Crop receipts totaled 2.391 billion pounds, trailing last season by 3.5%, with a forecasted crop of around 2.45 billion pounds. 

ALMOND BLOOM 2024

The almond bloom is underway, with early varieties about to begin. The market attention is focused on weather conditions and the crucial role of pollinators.

The Blue Diamond update also indicated that the market is maintaining momentum over last year’s performance, with active buyers in major markets that indicates a continued demand. The report also noted that the industry aims to maintain shipping pace and reduce carryout levels to align more with demand. The almond bloom’s potential for the 2024 crop is closely monitored.

Blue Diamond also provided information on the Gulfood show in Dubai, where the market’s latest developments will be discussed. Blue Diamond Growers will be located in Shk Saeed Hall 3, booth S3-G56.

The complete Feb. 13, 2024 Blue Diamond Almond Market Update is available online.