Almonds... Position Report and Global Update
Report >>December 2015 Position Report <<
The Almond Board of California has released the Almond Position Report for December with shipments of 135.4 million pounds compared to 148.1 million pounds last year for a decrease of 8.6% percent.
The shipment numbers were released yesterday evening ( local time ) , receipts are at 1.85 billion which is up by 2.47 %. Exports are down 7.4%, domestic is down by 11% total down by 8.6%.Commitments are up by 10% which came a bit of a surprise.
Shipments for December:
- Domestic- -11%
- Export- -7.4%
Western Europe +2%
- Asia/Pacific -5%
- Middle East -26%
- Spain- -8%
- Germany- -17%
- China- +18%
- India- +2%
- United Arab Emirates -71%
YEAR TO DATE SHIPMENTS: Are at 707 million pounds compared to last year at 803 million pounds for a decrease of 11.88 percent.
CROP RECEIPTS: +1.85 billion pounds. We will most likely see the final crop in the range of 1.87- 1.88 billion pounds. The total crop may be between 1.88 and 1.92 billion pounds, if we take into account that last year we got receipts of 60 million pounds between Jan and Aug 2015.
CURRENCY: The Euro is now at $1.09 dollars. Dollar has strengthened against many of the emerging market currencies.
MARKETS: Where to begin? The world stock markets started the new year off with the largest 4 day drop in history, to see all stock markets take a major drop! Focus has shifted to the economies of many emerging markets. Hopefully the over reactions has resolved themselves now.
PRICES: We have witnessed a correction in the almond prices during the past month with almond prices slipping due to weaker shipment information combined with California now receiving rain and chill hours. The lowering of almond prices has brought in a new wave of buyers taking advantage of these new levels. Markets being active during the past week have been USA, China, Europe, and Middle East.
RAIN/SNOW: The rains have started arriving weekly. Parts of the valley are above average for their annual rainfall season to date and other areas are slightly behind. The big news is the snow pack in the mountains which is ahead of schedule. Snow pack will assist to fill the water reservoirs. The mood in California is improving with each new storm which arrives. We have another rain storm forecast for Wednesday and then another this coming weekend.