JANUARY 2020 ALMOND REPORT
During the month of January, sales were very strong to India and Germany in the first half of the month, Europe all started gaining momentum during the second half of the month as prices started to slip downwards .The U.A.E still falling short of last years figures even with falling prices.
The added 100 million lbs has motivated packers/growers to reduce pricing and sell more almonds. With a crop over 2.5 Billion pounds, the industry is now at 67.2% Sold.
With the outbreak of the Corona Virus in China, many buyers have become more cautious in their buying as they attempt to understand the ramifications of it.
China and the USA have reached a trade agreement which allow China to buy more Agriculture goods from the USA. The current retaliatory import duties on almonds are at 55%, so we will need to see some improvement on this high level to motivate buyers to buy almonds later this season.
The California Almond bloom will be under way by the end of the week. Warm weather and a lack of rain has moved it along. Rain is needed, but there is concern if it falls as snow during the bloom.
All eyes will be on the bloom during the next 3 weeks to see what the potential of the 2020 almond crop is. You will hear but will have a better idea by April/May of its potential once it starts to develop on the trees.
Uren can supply a range of nuts in volumes tailored to your business needs, at a competitive market price. Contact us today to discuss your business requirements and our friendly team of experts will be more than happy to help. To find out more about our Nuts click here.