Almond Market Update - December 1, 2020

With last week's short week and so many off with their immediate families as they celebrated Thanksgiving, it was a quiet week on the sales side of things.  We have enjoyed cooler weather and plenty of fall like conditions with leaves covering the ground just in time for the holidays, as we bid farewell to November and welcome in December.

Despite the slow sales the market has shown strength the last two weeks, following last month’s record shipment of 309 million pounds.  November and December are also on track to be record shipment months albeit not to as high of a level as we saw in October, but still trumping last year’s shipments. We are very happy with the sales position at this time of the year ahead of the needed pace to to support this potential 3.0 billion pound crop of ours.

Week 49 Update:

Bullish Trends:

1. The consumption we have seen continue in the market place has surprised the most bearish of individuals.  The Middle East, Europe and India continue to show strength in the midst of so many issues surrounding us.
2. With domestic sales almost 11% ahead of last year and export sales 43% ahead of last year at this time, we are well on our way to moving the largest almond crop in history.
3. It is exciting to see so many new products making their way to the grocery shelves.   Be sure to try the dairy-free Nog this season if you have not already, several brands to choose from and it is delicious!

Bearish Trends:

1. We have heard it before, but at some point things will slow down and the records may stop.  The real test comes in the first and second quarter of next year.
2. Timing is everything, and it is only a matter of time before the pantries are full and consumption slows. Bah Humbug.
3. COVID-19 is at an all time high with cases breaking records everyday and now with over 260,000 souls taken.  We wish for everyone to stay safe, and to reflect on what we should be grateful for and praying for a quick end to the pandemic.

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