The US almond industry records solid January receipts
While we see much of the Midwest and East Coast under extreme weather conditions, California 's weather has been very mild and we continue to see excellent bloom conditions.
The almond market has had a few days now to take in the shipping report numbers from last week. With the additional 156 million pounds receipted in January, that represents an increase of 26% over last January’s receipts, bringing the total receipts thus far to 3.025 billion pounds, 20% ahead of last year. We can now assume the crop will approach the 3.1 billion pounds the industry has been assuming for some time now.
After the report we saw the markets react with a softening on some varieties and sizes, but now it seems the bottom has been found and prices are rebounding. Ingredients remain resilient as demand for manufactured value added products continues to be strong.