The May 2020 California Almond Industry Position Report was published this morning. Here are some key points from the report:
2019 Crop Receipts to Date: 2536 Million LBS
2019 Total Shipments to Date: 2017 Million LBS (+3.72%) May Total Shipments: 153.89 Million LBS (-13.9%) • Domestic Shipments: 57.15 Million LBS (-13.6%) • Export Shipments: 96.74 Million LBS (-14.1%) Total Commitments: 455 Million LBS (+25.76%) Net New Sales: 112 Million LBS
2019 Crop Percentage Sold 93.0%**
2020 Crop Percentage Sold 9.53%**
Various Countries/Regions Month to Month Shipment Change India (+4%) China/HK (-21%) South Korea (-8%) Japan (+8%) Western Europe (+6%) Central & Eastern Europe (+13%) Middle East (+25%)
**Total commitments are 456M LBS. We do not foresee more than 300M+/- LBS being shipped in June & July. This would leave 156M+/- LBS rolling into new crop sales. This number coupled with the current 287M LBS of new crop sales, would bring the new crop sold position to 15%.
California shipped 411 FCL’s to India in May, compared to 565 FCL’s last year. India needs 600+/- containers per month to keep up with regular demand as almonds are ingratiated into various food items which the population consumes. April (197 FCL’s Shipped) & May (411 FCL’s Shipped) is considerably less than what is needed. We expect buying interest to come from India.
Expected carry out for the 2019 crop is 435-450M LBS.
The Valley Pride Ag Co Team