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Low Demand From Buyers Is Putting Pressure on the US Almond Industry

Almond Kernel
United States
Price
Demand
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Alex Zeid
Updated Oct 26, 2022
At the SIAL-Paris food trade, almond buyers highlighted the challenges encountered, including demand concerns, the strong dollar, inflation and the Russia-Ukraine war. However, sellers are under more pressure due to increasing volumes from the new almond crop exacerbated by the 2021 crop carryovers that need to be sold. Almond prices in the food trade were USD 0.03–0.05 p/lb less than elsewhere, indicating that the US almond industry is under pressure. At these price levels, buyers are showing demand for a Q2-2023 shipment. Despite the pessimism surrounding the food trade, buyers do not anticipate any significant decline from present levels. Additionally, now is the time for Diwali, during which Indian demand will slow down as a result. However, a successful Diwali and India's present cargo position should result in significant demand moving forward.
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