The Almond Board of California has released its February Position Report, providing critical insights into current market trends, shipments, pricing, and future expectations. Here are the key highlights:
Market Overview
- Year-to-date (YTD) shipments remain flat, reflecting steady demand
- Commitments are down 8%, indicating that many buyers remain largely uncovered for future needs.
- Crop 2024 has finalized below 2.70 billion lbs, compared to the initial estimate of 3.0 billion lbs.
Pricing & Market Dynamics
- The price differential between STD5s (bottom of the market) and NPX (premium end of the market) has compressed to less than 20c/lb, the smallest gap seen since 2020.
- EU Tariffs on US Almonds: Almonds are set to be included in EU countermeasures against US tariffs on EU products.
- While the UK takes a “wait and see” approach, tariffs could make US almonds more expensive in Europe.
- If tariffs are implemented, almond prices may need to come down to offset the impact—a situation the market is closely monitoring.
- Despite these potential challenges, almond prices have continued to firm all week since the position report was released.
2025 Crop Expectations
- Early concerns suggest that Crop 2025 may be smaller than this year’s harvest, though it is still too early to draw conclusions.
- The industry now awaits the first official estimates next month to provide better clarity on the 2025 outlook.
Currency & Trade Update
The British Pound (GBP) continues to hold strong above 1.29, which may provide some relief for UK buyers navigating potential price fluctuations.
Helios Almond Offerings
At Helios Ingredients, we offer a range of high-quality almond products, including:
✅ Almond Paste
✅ Chopped Almonds
✅ Sliced Almonds
✅ Other Almond Varieties (available upon request)
For more information or to discuss your almond requirements, please contact us.