MARKET REPORT
COMMITMENTS Total commitments amounted to 581 million pounds; a 5% decrease compared to the previous year. New sales for the month reached 192.5 million pounds, reflecting a 12% decline year over year. Current shipments and commitments now represent 81.6% of total supply, slightly trailing last year’s pace with three months remaining in the crop year. The industry is on track to experience a similar tight carryout to last year, with projections of just under 500 million pounds. CROP The 2025 Subjective Estimate, released on May 12, forecasts a crop of 2.8 billion pounds, based on 1.39 million bearing acres and an implied yield of 2,010 pounds per acre, slightly below the five-year average. Assuming crop production reaches the high end of industry estimates at 2.8 billion pounds, the industry is still expected to maintain a balanced supply and demand landscape through next year and points to price stabilization as we approach the new crop. The market will wait for further clarification on the crop with Objective Estimate in July.
Market Perspective Overall, the market outlook for the coming months remains positive, supported by sustained global demand and tight supply as we approach the final months of the crop year. This should help stabilize prices heading into the new crop. While uncertainties remain, particularly regarding potential tariff changes and the outlook for the 2025 crop, robust demand in key export markets such as India and the Middle East is expected to drive growth. It would be wise for buyers to secure coverage sooner rather than later to mitigate the risks of supply shortages and price fluctuations.
Laura Gerhard, Vice President of Ingredients and International Branded, Blue Diamond Growers
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