Almond Industrie Position Report February 2019
The Almond Board of California released the February 2018 position report.
February shipments were at 187 mil lbs, 1.7% lower compared to February 2018 (190 mil lbs).
US domestic was up by 8.7% 58.4 mil lbs compared to 54 mil lbs last year.
Exports were down by 5.7% 128 mil lbs compared to 136 mil lbs last year.
Crop receipts are at 2,26 bill lbs compared to 2,25 bill lbs, up by 0.52%.
Shipments to domestic have been very good, 426 mil lbs compared to 409 mil lbs last year up by 4.15%.
Exports are doing good despite all tariff issues, 977 mil lbs compared to 1 bil lbs last year down by 3.49%.
Total shipments are 1.403 bill lbs compared to 1.422 bil lbs down by 1.29%.
Commitments domestic are up by 9.81% 238 mil lbs compared to last years 217 mil lbs.
Domestic commitments are down big time, 263 mil lbs compared to last years 307 mil lbs. Down by 14.26%.
Total commitments are down 501 mil lbs compared to last years 524 mil lbs, down by 4.29%.
Uncommitted inventory is at 670 mil lbs, up by 1.93% (657 mil lbs)
Its clearly that EU market is not covered and it is expected for this to remain as long as buyers are buying hand to mouth. Bloom has finished, and growers are awaiting to see how it has finished. In the meantime we are seeing offer for new crop for STD5% at 2.46 USD/lbs FAS. 2.78 is being offered for March, this is a difference of 0.32 USD/lbs. The market is confused prices for NP are being traded at prices same as Carmels. As we head towards the end of the crop we will see a much bigger squeeze and certain varieties to become lesser available.