Almond prices in the US increased

California's almond crop will shrink by 3.5% compared to the 2018 harvest and reach 2.2 million pounds (997.9 thousand tons), according to the Final Almond Harvest Forecast, published by the United States Department of Agriculture National Agricultural Statistics Service 3 July.

According to producers, a decrease in yield will certainly affect the availability of nuts on the world market. Reports APK Inform.

“Now we are completing the delivery of last year’s almond crop. The low volume of the current crop will lead to the fact that the suppliers of nuts are at the lowest level in the last five years. Everyone expected a 10-15% increase in almond yield and the fact that the final forecast reported a decrease in production compared to initial expectations immediately led to a jump in almond prices by about $ 0.3 per lb (454 g), ”- said the representative of the company Del Mar Packing LLC Heriberto Hernandez.

The increase in cost is due to a decrease in production with constant high demand. Del Mar Packing LLC said that last year the company supplied 136 thousand tons (300 million pounds) of nuts, and this year, it is likely to send less than 113 thousand tons (250 million pounds) to foreign markets.

The largest importers of California almonds are the countries of the Middle East, Europe, China, India, Korea and Japan. Heriberto Hernandez added that at the moment almonds are one of the most profitable crops for California farmers. Some growers replace the stone orchards with nut trees, considering the profitability of growing pistachios, walnuts and almonds.