November, 2009

New record shipment for October, Almond Industry Position report released today, reported shipment number for October at 168 millions pounds compared to record shipments last year of 157.5 million pounds.  This is a 6% increase over last October and year to date puts the 2009 crop season at +8%. 

Receipts year to date are reported at 968.5 million pounds based on objective estimate indicates industry would be 72% received, which leaves no indication that crop will be too short, if at all of the NASS Objective Estimate of 1.350 million pounds.

Supply and Demand for 2009 Crop:

October was a very active month on the market, this is transparent by the industry commitment number, if you gross up the commitments to represent 100% of the 2009 crop, industry would be 57% sold compared to 45% reported for the month of September, a very impressive +12%.

Prices of almonds  (California Std grade) have been on a rebound for several months after hitting a low in March of 2009 of $.95 lb.   October witnessed the largest market movement of +$.30lb since May 2007.  At the end of October prices of Blanchable Std almonds was at $1.55lb, the highest level since September of 2008.  Nonpareil pricing seen a slight increase of +$.05lb to $2.30lb thus narrowing spread between California and Nonpareil varieties to $.75 lb.

Contributions to this rise in market was caused by 2008 crop supplies now are sold out. Spot loads on the quay being dwindled along with the continued soaring global demand from markets that typically did not dominate the almond market.