Drop in almond prices is over, Select Harvests says
AgriMoney.com reports that while almond prices have slipped 25% since August, Australia-based Select Harvests predicts that “The correction in almond prices is over, as the effects of the Californian drought rule out a supply boom from the US.”
Prices peeked over the summer, but have declined with slowing shipments. October, viewed as the most important month for almond shipments, saw U.S. shipments down 20%. QFN Trading & Agency sees the decline in demand as a sign that prices are likely to continue downward. But Select Harvests sees “continued relatively high almond prices in the short to mid-term.”
Select Harvests points to prices stabilizing after the Autumn fall to levels in line with last year and continued good demand. The lack of increased supply due to the California drought and perceived low inventories in the market are also factors given for prices to remain near current levels.
California almond growers review eventful season
Christine Souza reports for the Sierra Sun Times that Blue Diamond Growers highlighted the 2015 season for California’s almond growers at their recent annual meeting.
The ongoing drought forced the industry into the spotlight as a scapegoat for water issues plaguing the state, but industry has put a concerted effort into refuting harmful claims and educating the public on current production and water management practices. However the state still “needs to manage its water better, and stakeholders traditionally at odds over the water allocation need to work together to develop a long-term water strategy,” according to the Chairman of the Board for Blue Diamond Growers.
California is the best place in the world to grow almonds, and demand remains strong. Blue Diamond Growers achieved record high sales this year in more than 90 countries, partially by focusing on developing and selling value-added products. “Blue Diamond is the unusual food company that is averaging 20 percent growth.”
Blue Diamond also continues to build towards the future, focusing on continued innovations and improving its processing capacity and capabilities.