(Comments provided to us by Mike Fenn from The Almond Company)
What’s happening in the industry?
Everyone is waiting for the final 2019 crop estimate which will be released July 3rd. The crop estimate is the last piece of information that Almond growers will need before marketing their 2019 crop.
Please give us a market update
California has the lowest inventory as a percentage of the crop on record. Currently, the industry is on track to have less almonds in the new crop than they’ve ever had. Prices have been booming and the industry is over 90% sold on their 2018 crop.
What do current inventories look like?
California is almost completely sold out of the current crop (2018). There’s very little inventory left to sell and we predict that by the end of June everything will be gone. Because of the lack of inventory, prices have been inching up in value. We predict that for the 2019 crop, prices will be on the rise compared to previous years due to this lack of inventory.
For more information, review the Primex Almond report here.
Review the Primex Pistachio report here.
Review The Milk Producers Council report here.