Almonds on the tree

Almonds market update August 2020

Almonds market update August 2020

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.

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Do you have any questions or comments after reading this report? Please feel free to send us an e-mail at bnoorland@cornhouse.nl or call us at +31 10 206 1930. We look forward to hearing from you!

Ms Cashew, Sir Peanut

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