As we step into 2025, we hope the year has started on a positive note for all our partners and stakeholders. The Almond Board of California has just released its December shipment report, and here are the key takeaways:
Receipts
- Based on current receipts, the Industry is now moving away from the Objective Estimate of a 2.80 billion-pound crop.
- Current data suggests a revised estimate closer to 2.70 billion pounds.
Shipments
- Year-to-Date (YTD) shipments remain flat overall.
- However, domestic shipments are notably down by 20%.
- Many domestic buyers appear to be holding off as they await clarity on the potential impact of Trump’s upcoming policies. The possibility of new tariffs on international trade could benefit domestic buyers in the long term.
Commitments
- Commitments are down by 12%, signaling that there is still significant business to be conducted in the coming months.
- California sellers continue to limit forward sales to a maximum of three months. This strategy helps control supply and leverage firming prices.
Currency Impact
- The GBP has declined to 1.22 against the US Dollar, influenced by expectations surrounding Trump’s economic policies, often referred to as “Trump Economics.”
Market Outlook
The almond market is now closely watching the bloom season, which will determine its next direction. Any unfavorable news during this period has the potential to sharply drive prices upward.
We will continue to monitor the situation and provide updates as new developments arise. For further information or inquiries, please reach out to our team.