W6 Almond Update: Azerbaijan's Almond Imports Surge by 43.6% YoY and California Almond Board Reports Record Jan-24 Exports, Strong Demand, and Rising Prices

Published 2024년 2월 16일

In W6 in the almond landscape, Azerbaijan's almond imports increased by 43.6% YoY from Jan-23 to Nov-23, with 693 tons valued at USD 3.7 million. The import price per ton decreased by 5% YoY. Despite a mid-winter heatwave, Mula, Spain, celebrates almond tree blossoming. US almond shipments are projected to break records in Jan-24, with estimates ranging from 200 to 240 million lbs. The industry is shifting towards other ports to circumvent chokepoints, such as the Panama Canal and the Red Sea. Lastly, California's almond board reported a 2.7% increase in Jan-24 shipments, with a new record of 235.9 million lbs. Demand for almonds increased in domestic and export markets, with prices rising.

Azerbaijan's Almond Imports Surge in 2023 While Import Prices Decreased

The almond imports in Azerbaijan from Jan-23 to Nov-23 saw a significant increase, with 693 tons valued at USD 3.7 million, a 43.6% year-over-year (YoY) increase. The import price per ton of almonds was slightly lower at USD 5,399, a 5% YoY decrease. The cost of importing almonds from Jan-23 to Nov-23 was USD 5.37 per kilogram (EUR 5/kg), compared to USD 5.63/kg (EUR 5.25/kg) in 2022.

Mula's Almond Blossom Celebration Amidst Mid-Winter Heatwave in Murcia, Spain

Mula, located northwest of the Murcia Region in Spain, celebrates almond tree blossoming despite a mid-winter heatwave. With 74.3 thousand hectares (ha), Murcia is the fourth-largest producer in Spain, with towns like Lorca, Mula, and Jumilla contributing 63.5% of total organic almond production.

US Almond Shipments Set to Break Records in Jan-24 Amidst Shipping Challenges

United States (US) almond shipments are projected to achieve record levels in Jan-24, according to a Mintec survey. Estimates vary from 200 to 245 million pounds (lbs), with most respondents indicating 220 to 240 million lbs. A volume of 230 million lbs or more would establish a new monthly record. Despite challenges with the Panama Canal and the Red Sea, the industry is shifting towards other ports to circumvent chokepoints. US exporters opt to transport containers by rail and utilize East Coast ports to bypass the Panama Canal. The Panama Canal Authority has reduced the daily slot allocation to 24 ships due to drought conditions, while securing shipments to Red Sea ports has become increasingly challenging due to recent Houthi militant attacks in the area.

California Almond Board Reports Record Shipments and Strong Demand in Jan-24

The California Almond Board reported a 2.7% increase in Jan-24 shipments, with a new record of 235.9 million lbs, compared to 229.6 million lbs in 2022. Exports also reached a new record, with 173 million pounds shipped out. Demand for almonds increased in domestic and export markets, with prices rising. Feb-24 shipments are expected to increase, with experts predicting a carryout of 450 to 480 million lbs, compared to the past few years, which was 800 million lbs.