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August 2022: US Almond Update

Raw Almond
Almond Kernel
United States
Price Trend
Supply Yield / Stock Quantity
Sep 13, 2022
Written by
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Alex Zeid
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August 2022 represents the first month of the new US almond crop season and the industry has started well with 103,419MT, a record increase of 10% compared to August 2021. Much of the conversation since the start of the year has been around the size of the 2021 crop carryout which has finalised at 379,203MT, a new high. The primary concern for California is to keep pushing remaining inventories and flushing the remainder of the 2021 crop through the market.

New Crop receipts are down -15% and commitments are down -14%. Net new sales for August were 88,451MT compared with 62,142MT last year. The US domestic market saw another decrease in shipments for August. Europe had a strong month at 11% up while India is down 39%. Following on from a slow July, the industry believes the almond market will be active again soon.

August has been a difficult month in general. Buyers are struggling from a variety of different economic issues including exchange rates, inflation, and concerns over demand. Sellers have been struggling with a lack of grower support despite a price increase towards the end of August. It is highly likely that prices will remain in a small trading range moving forward. Growers will have to come back to the market and start supporting the new crop market whilst it appears that buyers will need to buy towards the end of this year
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