Sep 18, 2024California almond shipments drop 21%, industry faces uncertain 2024 crop outlook
The California almond industry kicked off the 2024 crop year with August shipments totaling 168.3 million pounds, marking a 6% decline from July and a 21% drop compared to last year, Blue Diamond Growers reported.
The California almond industry began the 2024 crop year with August shipments totaling 168.3 million pounds, down 21% from last year, according to the Blue Diamond Almond Market Update released on Sept. 16, 2024.
The update, written by Laura Gerhard, vice president of Blue Diamond Growers, highlighted that while domestic shipments increased 1% to 62.1 million pounds, exports dropped 29% due to tight inventories.
India saw a 24% rise in almond shipments, while shipments to China, Hong Kong, and Vietnam fell by 35%. European shipments declined by 40%, and the Middle East saw a 41% drop. Buyers across multiple regions are taking a cautious approach, awaiting clearer price signals.
Total industry commitments are down 2%, with new sales slowing, but demand is expected to rise as the holiday season approaches. The update noted that crop yields remain uncertain, with some speculating the final output could fall below 2.8 billion pounds. This has led California packers to proceed cautiously as the harvest progresses.
