Italian Almond Prices Retract After Reaching Highest Level in Two Years

Almond prices in Italy retracted after peaking at multi-year highs midway through July, decreasing 2% over the last two weeks. Almond prices reached multi-year highs as global supply and demand are rebalancing and harsh weather continues over Europe's main almond regions. However, the price increase was overdone as consumption remains weak. This, coupled with the upcoming harvest, put prices under downward pressure, which is expected to continue.