News

Are better days ahead for U.S. almond industry?

Raw Almond
United States
Market & Price Trends
Published Feb 22, 2024

Tridge summary

The almond industry is on the path to recovery, with unsold U.S. almond stocks expected to drop below 500 million pounds for the first time in several seasons, according to RaboResearch. The global almond industry is also seeing a decrease in unsold stocks, ending 2022 with approximately 992 million pounds. This positive trend is attributed to increased U.S. exports, especially to Asia-Pacific and Europe. However, the industry still faces challenges such as orchard removals, pest damage, water scarcity, and competition from pistachio production.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Has the latest almond industry downturn bottomed out? Ending stocks of unsold U.S. almonds at the end of this marketing year could fall below 500 million pounds for the first time in several seasons, according to Roland Fumasi, head of RaboResearch Food and Agribusiness for North America. This is much improved from the 800 million pound carry-outs that the industry experienced in the past several years. Global ending stocks are likewise trending down, according to the five-year almond outlook report published by Rabobank. The global almond industry in 2022 ended their respective marketing seasons with a total of about 992 million pounds of unsold almonds, after experiencing a decade of stable ending stocks at less than half the 2022 peak. Global ending stocks could top just 700 million pounds at the end of this marketing season, offering growers a chance at profitable returns. Rabobank believes ensuing market stability could hold prices above $2 per pound with slim chances of ...
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