U.S. almond inventories are tight, exports to China drop by nearly 30%

Prior to the release of the report, market participants surveyed by Expana had an average forecast of 195 million pounds for shipment volume (with an estimated range of 175-230 million pounds). Although the actual data, similar to the 2024/25 production season, was once again below the forecast range, reviewing the subsequent performance of the 2024/25 production season shows that actual shipment volume for seven out of twelve months fell within the range of Expana's preliminary forecast, with only two months significantly exceeding expectations. In August, shipment volume was 158 million pounds, with 48 million pounds shipped domestically, a decrease of 22% year-on-year; international shipment volume was 109 million pounds, an increase of 3% year-on-year. Although the association predicts that 75% of the production for this season will be used for export, the average export ratio over the past three years has been approximately 73%, with a higher proportion of export shipments at ...