Jul 31, 2023Blue Diamond releases report, shares almond shipments for June
In the Blue Diamond Almonds Market Report – July 17, 2023, Laura Gerhard, vice president for Blue Diamond Almonds, shared that “shipments for the month of June were 187 million pounds, which is at the low end of industry expectations.”
In the email, Gerhard also shared that overall, almond shipments had decreased 33% compared to last year. “This was expected as buyers and sellers alike have limited their activities in anticipation of the Objective Estimate. Export shipments accounted for the shortfall at 126 million pounds, down 41% to last year. Domestic shipments rebounded from recent months reporting 61 million pounds for the month, up 11% to last month and down 5% to last year,” according to Gerhard’s email.
Gerhard acknowledged that shipments have declined over the past three consecutive months, and have decreased a total of 3.5% year-to-date.
The report also addressed shipments to India and China have increased for the month, but are down for the crop year. Shipments to Europe have declined 41% compared to last June, according to the report.
The report also detailed shipments to the Middle East and shared data related to the domestic U.S. market, which according to the report “remains down 7% year-to-date.”
Total commitments stand at 451 million pounds, which is a decrease of 1%, compared to last year, according to the report. Additionally, the uncommitted inventory is report to have decreased 4%, but noted that market activity for the current cop increased in June 2023.
The USDA Objective Estimate was released on July 12, which forecasted forecasts 2.6 billion pounds for the 2023 crop.
The Blue Diamond Almonds Market Report – July 17, 2023 noted that with “one shipping month remaining in the 2022 crop year, it is likely the carryout comes in under 800 million pounds.”
To read the full report and view Gerhard’s market perspective, visit Blue Diamond Almonds.