MARKET REPORT
ALMOND MARKET UPDATE
Blue Diamond Almond Market Update – January 13, 2025
OVERVIEW December shipments were in line with market expectations, reaching 233 million pounds, a 1.6% increase compared to last year. Export shipments led slightly, totaling 177 million pounds, reflecting a 2% increase over the previous year. Domestic shipments showed a 1% decline for the month. As anticipated, shipments are recovering from the light volumes seen in the first two months and continue to match last year’s performance.
SHIPMENTS India:
December shipments totaled 34.6 million pounds, up 70% from the record low last month but down 10% compared to last year. The year-to-date gap has narrowed to 21%, with total shipments at 157 million pounds, compared to 198.4 million pounds at this time last year. Local sales have been strong across all channels, driven by the approaching wedding season, which has depleted inventories. As November shipments reach their destinations, buyers will soon realize that inventory remains tight. Buying activity in California has picked up as buyers begin replenishing their inventories. China/Hong Kong/Vietnam: Shipments to the region for the month totaled 7.1 million pounds, a 45% decrease compared to last year. Year-to-date shipments trail last year by 26%, widening the gap by an additional 4% since last month. Chinese buyers continue to seek alternative supply sources to bypass U.S. tariffs, which explains the increase in shipments from several Southeast Asian countries. Regional buyers have shown renewed interest, likely in anticipation of increased consumption during the Chinese New Year festivities at the end of January. However, demand from China for California almonds is expected to remain limited in the coming months, as they turn to Australia as their primary supply source.
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ALMOND FACTS
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