Nov 17, 2023Blue Diamond Growers shares the October almond position report
Laura Gerhard, vice president for Blue Diamond Growers, provided the latest almond market update on Nov. 17, 2023 which details an overview of October’s almond market, including shipments.
OCTOBER 2023 OVERVIEW
Gerhard noted strong shipments for the month, compared to 2022. Shipments reached 247 million pounds, which is a 12% increase from the previous month. Exports saw a 28% rise compared to 2022, but domestic shipments realized a 13% decline. Overall year-to-date shipments for Q1 are up 7.3% over last year.
Gerhard provided detailed information on India, China/Hong Kong/Vietnam, Europe, Middle East and domestic shipments in the market update. Here is an overview of the what the October shipments experienced according to the market report.
- India: Shipments came in at 48 million pounds, up 48% to last year. Year-to-date shipments increased 38%.
- China/Hong Kong/Vietnam: Shipments were 29 million pounds for the month, up 8% compared to last year. Year-to-date shipments to the region showed a 14% decrease.
- Europe: Shipments in October were up 17% compared to last year. Year-to-date shipments are up 9%.
- Middle East: Shipments were up 72% compared to 2022, which is an increase of 8%.
- Domestic: Shipments totaled 57 million pounds, which was a decline of 13% over 2022 shipments in October. Additionally, the market update noted that domestic commitments are behind last year by 17% at 271 million pounds.
“In the upcoming months, North America will be closely watched for insights into demand, as it plays a pivotal role in the industry’s efforts to reduce carryout,” Gerhard said in the email.
The email highlighted the total commitments at 677 million pounds, down from last year by 2.5%. New sales for October were up 7 million pounds and totaled 251 million pounds (a 3% increase compared to last year).
To read the full almond market update and Gerhard’s Market Perspective, click here.