Almond Market Update March 2022 Week 9

As California and the rest see one of the driest spans in the last two decades, last week's freezing temperatures caused some unrest in the market. Growers had decided to assess the damages to their product. However, after the initial assessment, it can be said that orchards have not been hit as hard. 

It is important to note that last week's harsh weather hit much of the northern and central parts of the growing regions, while most of the Almond orchards are centred in the south. Irrespective, we have seen one of the driest two months of the year, which supposedly are the wettest two months. 

The market, on the other hand, has remained firm. Since the shipment report that came out on 11th March, the market has been quite alert.

As of now, the market has shown trends in both directions. The weather may continue to cause issues in the supply chain, and the current shortages in specific sizes of the nonpareil may propel a price rise. 

While at the same time, the export numbers show that demand has not been near as high as it should be. There is still a sufficient stockpile left, and with five shipping months remaining, it is possible that there will be a considerable chunk of the crop left when the new stock comes in. 

This would result in several issues for the industry, including storage. We will let you know as the situation progresses.