A “significant rebound” is expected for the California almond industry, according to a recent report from Rabobank. Senior Analyst covering fruits and tree nuts for Rabo AgriFinance, David Magaña said that with back-to-back years of shorter crops on a global scale, markets are balancing out. Domestic shipments of almonds have been steadily improving with expectations for that trend to continue, ultimately hitting new milestones in the coming years.
“We are expecting ending stocks, or carryout, being significantly down compared to the previous two seasons that were at historical highs. We’re already seeing prices improving over the past few months,” said Magaña. “If shipments continue this strong pace – particularly exports that have been up in double digits – for the rest of the season, we will continue to see this upward trend in prices benefitting growers that have been struggling for the past two to three seasons.”
Listen to the report below.
Brian German
Ag News Director / AgNet West