sept-oct-2020

Mark Jansen President & CEO PRESIDENT’S CORNER The Power of Innovation, The Value of Blue Diamond This is a unique year for Blue Diamond, where business as usual is dramatically changing. We are continuously finding new ways to navigate the impacts of the COVID-19 health crisis. This past year, apprehensions over tariff issues with China were replaced by world-wide concerns over the impacts of the pandemic. COVID-19 changed almond consumption patterns, market channels (food service and convenience stores) and shut down the Indian market for weeks, and confidence in payments for months. Ultimately, after several strategic pivots, Blue Diamond was able to move the entire crop while achieving a significant competitive return advantage. We remain dedicated to innovation, value-added almond product development and market growth while providing our grower-owners with industry leading returns. The table below summarizes the final payments for all varieties. Please note the actual rates earned by your deliveries are shown in the box on the last page of your grower’s statement. The Revolving Reserve for the 2019 crop has been set at 3.0 percent of the base payment rate. Variety Overall Average Average of High Quality Maximum Possible Nonpareil & Sonora Inshell $2.66 $2.69 $2.71 Nonpareil/Supareil Meats $2.56 $2.58 $2.63 Sonora Meats $2.48 $2.51 $2.54 Independence Inshell $2.46 $2.49 $2.51 Carmel & Winters $2.46 $2.48 $2.51 Independence Meats $2.39 $2.43 $2.46 Monterey $2.41 $2.43 $2.46 California/Price/Fritz/Wood Colony $2.42 $2.44 $2.46 Butte & Padre $2.42 $2.44 $2.46 Mission/Neplus $2.32 $2.34 $2.37 Peerless Inshell $0.90 - $0.92 Note: The above rates do not include Volume Premiums, Domestic Production Activities Deduction (DPAD) or IC-DISC advantages. Blue Diamond 2019 Crop Returns 6 A L M O N D F A C T S