Bill Morecraft
Senior Vice President
California almond industry shipments for January were reported at a disappointing 194.5 million lbs. Global ocean freight capacity and scheduling issues impeded fulfilling demand in export markets. At the same time, U.S. shipments returned to a more sustainable YTD trajectory of a 5.9% increase.
Through the first six months of the crop year, overall shipments are up 16% and 206 million lbs. of the YTD growth, the U.S. contributed 22 million lbs, China added 50 million lbs, India added 90 million lbs, and Europe grew by 30 million lbs.
With significant export volume awaiting containers and vessel rescheduling, new commitments of 206 million lbs in January added to the already large backlog. Open commitments are now 932 million lbs, up 333 million lbs and 55% over the prior year. U.S. commitments are 21% ahead of last January. Export commitments are 90% ahead of last year, reflecting strong demand butting up against significant shipment constraints….[Read More]