Jun 19, 2025May almond position report shows slight dip in shipments, rising inventory
The Almond Board of California’s May 2025 position report reflects a slight dip in overall shipments compared to last year, alongside increasing inventory levels and strong new crop receipts.
According to the position report, through May 31 the industry reported total shipments of 2.26 billion pounds for the 2024-25 crop year to date, a 1.9% decrease from the same period last season. Domestic shipments fell 7.03% year over year to 569.9 million pounds, while exports held nearly flat, down just 0.04% to 1.69 billion pounds.
Despite the modest decline in shipments, crop receipts continued their upward trajectory. Handlers reported 2.71 billion pounds of 2024-25 crop receipts as of the end of May, an 11.15% increase over the same point last season. After accounting for standard loss and exempt percentages, the marketable supply rose to 2.66 billion pounds.
As a result, the industry’s total supply — including a carry-in of 502.7 million pounds — reached 3.16 billion pounds, slightly below last year’s 3.19 billion. The Almond Board projects a carryout of 550 million pounds.
Inventory levels edged up slightly. Computed inventory stood at 884.8 million pounds at the end of May, a 1.4% increase from a year earlier. Uncommitted inventory also rose, up nearly 17% to 424 million pounds. Total commitments (sales contracted but not yet delivered) dropped 12.7% to 402 million pounds.
May’s monthly shipments were mixed. Domestic shipments for the month totaled 51 million pounds, a 22% drop from May 2024. Exports held steady, at 160.7 million pounds compared to 160.4 million pounds the previous May.
Regionally, Southeast Asia, South and Central Asia, and parts of Western Europe showed notable year-over-year increases in almond purchases. India remained a standout export market, importing over 342 million pounds so far this crop year.
In terms of quality, the cumulative inedible rate for all varieties stood at 3.09%, based on more than 2.71 billion pounds of total receipts.
As the industry enters the final months of the marketing year, strong crop receipts and stable export demand will be key factors influencing the balance between carryout and pricing. The next position report is expected to provide a clearer view heading into harvest.
