Almond Sector News: Managing Supply & Demand Amid Unstable Weather Condition
🌳 Almond Sector News: Managing Supply & Demand Amid Unstable Weather Conditions 🌦️
The almond market has been grappling with unpredictable weather, as colder temperatures throughout March and April could potentially impact crop development. This uncertainty has led to growers adopting a more conservative stance on sales. While we eagerly await news on crop conditions, an industry expert has predicted a 2023 crop output of 2.66 billion pounds, taking into account the generous winter water supply and comparable acreage expected for harvesting.
Great update: the Almond Board revealed that March shipments reached an impressive 281 million pounds, constituting the largest single shipment month since October 2020 and the third month in a row of record-breaking numbers! This puts the current year-to-date shipments at 1.798 billion pounds, a notable 6.85% increase compared to the previous year. With crop receipts at 2.541 billion pounds (a decrease of 12.4% YoY), it appears that the supply and demand for almonds are stabilizing.
Although the market has been somewhat subdued lately, the appetite for almonds remains strong. As supply tightens and demand becomes more pressing, we can expect renewed business activity.
📅 Important Industry Events:
Growing Period: Unusually cool weather, with warmer temperatures expected soon
Acreage Report: April 27, 2023
Position Report: May 11, 2023
Subjective Estimate: May 12, 2023
Position Report: June 9, 2023
📈 Optimistic Trends:
Shipments up 6.85% YoY, balancing supply and demand
Uncommitted inventory reduced by 5.9%, reinforcing positive outlook
2023/2024 crop forecasts gaining clarity
📉 Pessimistic Trends:
Commitments trailing last year's figures, suggesting cautious buying
Record shipments connected to earlier sales at low market prices
Domestic sales declining by 5.75% with no improvement in sight
As we progress, it's essential to monitor both the positive and negative trends influencing the almond sector. Stay tuned for further updates and valuable insights! #almondmarket #cropnews #supplydemand #agribusiness
