The Almond Board of California has released the April Position Report with shipments of +167.5 million pounds compared to 151 million pounds last year for a +10.9% increase. The shipments for April were expected to be strong for the industry. The new lower level prices are now reaching various markets and this has stimulated demand.
SHIPMENTS FOR APRIL:
YEAR TO DATE SHIPMENTS: 1.320 billion pounds compared to 1.399 billion pounds last year for a decrease of 5.65%.
CROP RECEIPTS: Crop Receipts are now at 1.891 billion pounds.
CURRENCY: The Euro is at $1.14 dollars.
CROP ESTIMATE: The Subjective Crop Estimate is at 2.0 billion pounds based on 900,000 bearing acres. This estimate is slightly lower than what many industry experts had expected over the past few months. The Objective Crop Estimate will be announced at the end of June. The trees have had ideal weather and have received periodic rains every few weeks to allow the nuts to add weight to increase kernel sizes.
MARKET: Sales during the month of April were incredibly strong with new commitments of 177 million pounds. Prices have risen approximately 30-40 cents per pound during the past few weeks since the Acreage estimate of 900,000 acres was announced. The smaller than expected acre report made the industry realize the potential crop would be less than originally expected. All major markets have been very active in buying during the past few weeks.
MAY SHIPMENTS: With the strong sales during the past month, the shipments for May look to be excellent as well.