In W34 in the almond landscape, in the United States (US), in response to an oversupply of Kern County's fourth highest-grossing crop, the Almond Board of California is launching a nationwide marketing campaign aimed at promoting almonds as a beneficial snack for post-exercise recovery. The campaign highlights recent nutrition research that suggests almonds aid muscle recovery after workouts. The organization is focused on diversifying its messages to various export markets, with plans to promote almonds' energy and exercise-recovery benefits in India and Germany. The campaign aims to bolster almond demand amidst increased farming costs and softening demand.
The Coordinator of Organizations of Farmers and Ranchers of Spain (COAG) has expressed concern over the poor almond harvest results observed in the main production areas. The initial stages of harvesting have shown a decrease of around 30% to 50% compared to the initial estimates. This decline is evident in irrigated and dry land, with low yields per tree and size issues for the almonds. Consequently, this leads to reduced profitability for producers due to the insufficient harvest and low price levels. In June, the State Board of Nuts, of which COAG is a part, estimated a harvest of 120.63 thousand tons of almond kernels for this 2023 campaign, 49% above the average of the last three years.
Furthermore, the Spanish almond harvest is underway in various producing regions, but prices continue to decrease due to the significant supply of American almonds remaining from the previous season. Prices in different markets reflect this trend, with historical minimum prices reached. For instance, the Lonja de Albacete reports prices as low as USD 3.13 per kilogram (kg) (EUR 2.90/kg) for the Comuna variety and USD 3.24/kg (EUR 2.95/kg) for Guara, both reaching record lows. Similarly, the Lonja de Córdoba shows a 25.5% year-on-year (YoY) decrease in prices for the Late Flowering variety, trading at USD 3.19/kg (EUR 2.95/kg) in shell. The Lonja del Ebro continues to experience price decreases of up to USD 0.24/kg (EUR 0.22/kg), influenced by the entry of competitive-priced American almonds from previous harvests.
Almond producers express concern over the current supply situation and pricing. In California, a surplus of over 362.87 thousand tons of last year's crop exists, with a new estimate anticipating a harvest of approximately 1.17 million tons for the upcoming season. The oversupply is causing challenges, influencing market prices. Additionally, the new harvest's start is delayed by two to three weeks due to unfavorable weather conditions, with harvesting expected to continue until November.
Lastly, the Department of Horticulture in Pulwama, India, plans to rejuvenate the almond industry by introducing high-yielding and agro-climatically suitable almond tree varieties within the next two years. Traditional almond trees in the region suffer from low production and susceptibility to harsh weather conditions, prompting many farmers to transition to other crops. The plan aims to introduce a range of high-density almond varieties in select districts to address these challenges. The revival plan aims to boost almond production, enhance marketability, and adapt to changing market dynamics.