Overall, the almond industry seems to be in a good position and has proven its resilience once again. No matter the size of the crop, almonds are a versatile nut with demand across geographies and consumption segments.
Clearly finding liquidity for almonds is just a matter of price and at current levels, which are 15 cents higher than a month ago, almonds continue to be a value and are loved by consumers.
With a crop this size, it becomes evident that there is no time for sellers to take their foot off the gas. However, handlers are in a strong enough committed position where they will continue to try to seek better returns for their growers; even if it’s just a few cents at a time.
Given the low snowpack and no significant precipitation forecasted over the next 30 days, growers are understandably concerned with a potential drought and its impact on the orchards.
With bloom just about a month away, focus has shifted towards the outlook of the 2021 crop. This will have a significant impact on how the balance 2020 crop is marketed going forward.