The July 2018 Californian almond shipment report was released today (10/08/2018.) The main figures from the report show –
- July 2018 shipments at 143.8M down from last years figure of 153.9m
- Committed shipments at 170M, down 15.65%
- Uncommitted inventory at 192m, down 5.05%
- Forecast carryover is at 403.7m
Sales have been slow over the past few weeks which has seen the market weaken by $0.5-0.07/lb. A combination of holiday season, trade wars causing global uncertainty, weak sterling and euro against the usd and with a “big,” crop on the horizon, buyers have been reluctant to put down forward contracts.
Going forward toady’s number is unlikely to awaken buyer’s who will feel they have a bit more time to wait. On the other hand with little cover on the books forward buying will have to be done and there could be a time when we see a spike off the back of this demand. For now all is quiet…