Californian Almond, Market Update, 11.11.2022

Key Numbers from the October Position Report
2022 Crop Receipts to Date: 1,656,928,108 (-7.65%)
2022 Total Crop Shipments to Date: 631,294,868 LBS (-3.19%)
October Total Shipments: 214.61 million LBS (-1.1%)
• Domestic Shipments: 65.58 million LBS. (.6%)
• Export Shipments: 149.03 million LBS (-1.9%)
2022 Crop Total Commitments 694,827,205 LBS (-7.10%)
October New Sales: 242 million LBS

In October 2022, the California almond industry shipped 214.61 million LBS, versus 217.07 million LBS in October 2022, down 1.1%. Domestic shipments were slightly up at 65.58 million LBS versus 65.19 million LBS last October. Export shipments lagged slightly, with 149.03 million LBS being shipped versus 151.88 million LBS in October 2022.

Some words from the Almond Board of California, “Crop receipts increased by 678 million pounds in October and now trail last year’s year-to-date receipts by 7.65%, slightly less than September 2022 YTD.

Total supply now stands at 2.46 billion pounds, just 4% ahead of last year. Last month, with two months of crop receipts data, the total supply exceeded the previous year by 8.5%.

Total European receipts were slightly ahead of last year at 37.2 million pounds, with Germany, Spain, and several Central/Eastern European countries outpacing October 2021. The Middle East had a strong month, and North Africa increased imports by over 2 million pounds versus last year.

Total commitments of 694.8 million pounds trail last year by 7.1%, a slight improvement as compared to last month at 7.59%.”
The growers welcomed an early winter storm that brought much-needed rain to the valley and snow to the mountains. Some areas in the high Sierra Mountains received 60 inches of snow! While this was an intense storm, we will need many more to catch up from the severe drought we are still facing.