2022 Q1 Nuts and Oilseeds Report

From Aug 1st, when the almond marketing year started, to Feb 28th, the US exported only 450,429 mt of almonds, compared to 567,699 mt over the same period in 2020/21 MY. This is a 20% drop year-on-year and was caused by clogged US ports, which disrupted exports. Virtually all of the US’s almonds are grown in California and exported through Californian ports, which have been some of the most congested worldwide. In February exports bounced back slightly, being 19% more than in January. While it is still below expectations, it is an indication that some of the backlogs in these ports are being cleared up. Buyers of almonds remain cautious, however, export sales for future deliveries increased slightly. This is a sign that buyers expect that logistics out of California might improve.