This year’s production of almonds is expected to be a record with the most recent previsions from NASS reaching 3.0 billion pounds. Based on the current estimate of 1.26 million bearing acres, this represents an average yield per acre of 2,380 lbs. High quantities of nuts will be harvested, but it also implies that kernel size will be smaller than usual.
Market prices this year are exceptionally low because of the difference between USD and Euro and uncertainty in demand because of Covid-19. Bottom of the market seems to have been reached in July; prices are now becoming more stable. Nevertheless, production costs are above selling levels, and growers are reluctant to sell their stocks. They are waiting; hoping for prices to get at higher levels. This might create a supply shortage in October.