Almond Market Update April 2022 Week 17

With the summers just around the corner, California continues to have on-and-off rain. Last week, there was quite a bit of rain, and even the Sierra's received between 12 and 8'' of snow. It is expected that sometime this week, they will receive about three feet of snow in some of the northern areas, but we will have to wait for that.

Last week, there had also been a general forecast and warning for people not to travel through the Sierra's, which is quite unique for this time of the year.

The Almond Board of California's March position report announced that the almond industry had shipped about 245 million pounds, meaning March has been the strongest shipping month for the current crop year. 

This has led to expectations of about 220 million pounds or more to be shipped for the remaining four months of the current crop year. While some consider this to be low, it might actually be better given the current situation.

Crop receipts have started to appear, and estimates are coming to about 2.91 billion pounds, down from last year's 3.1 billion. Similarly, it has been noted that domestic shipments were similar last year at 71.84 million pounds. In contrast, exports were down by 11.4% compared to the previous year.

Currently, shipments are down by 15% compared to last year. We'll let you know more as the situation escalates.