MARKET REPORT
ALMOND MARKET UPDATE
Blue Diamond Almond Market Update – November 15, 2024
OVERVIEW Shipments for October reached 258 million pounds, reflecting a 21% increase from last month and a 4.5% rise compared to last year. Export shipments totaled 191 million pounds, slightly surpassing last year’s figures. Domestic shipments rebounded to 67 million pounds, marking an 18% increase over last year and the highest shipment volume since March 2022 (31 months). As expected, shipments are gaining momentum following a slow start due to limited supplies. This trend is expected to continue through November as the market focuses on fulfilling orders to various export markets for the upcoming holiday season.
SHIPMENTS India:
October shipments to India totaled 29.4 million pounds, down 39% compared to last year. Year-to-date shipments, after three months, are trailing last season by 16%, totaling 102.1 million pounds. Strong and profitable Diwali sales left the market with minimal inventories heading into the festival. In the days leading up to Diwali, buyers returned to the market, keeping inshell prices supported as they resumed purchasing at similar price levels to where they had previously left off. Container arrivals to Nhava Sheva are still experiencing delays, ensuring a steady and consistent flow of product to the market while preventing inventory buildup. Since the holiday’s conclusion, Indian buyers have remained engaged, actively purchasing to replenish stocks and sustain momentum in the post-Diwali market. China/Hong Kong/Vietnam: Shipments to the region totaled 20.8 million pounds for the month, a 28% decrease compared to last year. Year-to-date shipments are 19% behind last year. As the Chinese New Year (CNY) festival approaches, both buyers and sellers in the almond market are focused on executing orders within the limited timeframe to ensure timely arrivals. Consumer demand
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ALMOND FACTS
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