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Almonds June 25, 2021

The shipment figures are fantastic and Almonds are a very favourable nut in the nut basket. Marketing by the Almond Board and being one of the cheaper treenuts are the key to this success. Growing crops in California are needed to fill in demand and although we all were reserved with the crop growth in 2020 of over 10%, also this crop is moving and finding his way to the consumers. Will 2021 crop be bigger again at 3.2 billion lbs has to be seen. The objective estimate of July 12 will give some more clarity on that.
To keep in mind is the drought hitting California. Hot temperatures at the moment and not enough snow pack / rain will have an impact on the future crops. This news, together with questionmarks on the 3.2 billion crop forecasted is causing a price difference between current and new crop of approx. Usd 0,10 per lbs where the current crop is cheaper than the new crop.