Europe: European shipments in February totaled 60.7 million pounds, down 1% from the same period last year. Year-to-date shipments are behind by just 1%. Demand for processor-grade almonds remains strong, with offers being difficult to come by, which has led to price increases for standard almonds. The recent announcement of retaliatory tariffs may cause some buyers to pause as they await developments. With many Spanish processors well-sold in the area, coverage will be needed from California, placing buyers in a precarious position as the uncertainty continues to build. Middle East: Shipments totaled 24.4 million pounds in February, a 10% decrease compared to last year. Year-to-date shipments remain up by 20%. The decrease was expected and should help reduce high stock levels in Mersin and Dubai. Pricing in-country has been lower than California origin for the past several weeks, but it is expected to rise as higher-priced cargoes arrive. Despite Ramadan starting in late February, buyers have remained active, with some making purchases to cover needs for April/May. Overall, the region is showing continued strength, with demand for California almonds still on the rise. Domestic: February shipments reached 56.18 million pounds, 4.4% behind last year. Year-to-date shipments are now at 414 million pounds, down 1.5% from the prior year. After a record January, buyers took a step back in February, contracting 29.38 million pounds, resulting in commitments lagging last year by 16.55%. Despite this, there is still strong demand, and buyers still need to book coverage for the balance of the crop year.
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MARCH–APRIL 2025
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