California’s handlers shipped 234.2 million lbs of almonds in February, 16% more than during the corresponding period in 2020, according to the latest Almond Board of California shipment report. After a brief pause in January, when shipments declined by 12% year-on-year (y-o-y), this is another month of record shipments for the Californian almond industry. California has now shipped record monthly volumes for six out of seven months in the current marketing year. The February figure has been boosted by some shipments being rolled over from January, due to the ongoing port disruptions caused by reduced container availability, and in general exceeds expectations within the industry. On the other hand, many consignments scheduled for February have been rolled into March. The year-to-date shipments total 1.71 billion lbs, 16.2% ahead of the last season.
Domestic February shipments amounted to 70.2 million lbs, an all-time high for the month and up 9% y-o-y. Aggregate February exports totalled 164 million lbs, also a record high for the month and 19% above February 2020, showing the global appetite for competitively priced almonds remains resilient. Exports in February increased on a y-o-y basis to some key destination markets including Western and Eastern Europe, as well as China and Vietnam. Exports to India fell for the second consecutive month.
With commitments totalling 887 million lbs in February, up 50% y-o-y, the volume of new sales reached 188.9 million lbs, 8% less than in January but only marginally lower by 1% than during the same month last year (191.5 million lbs).
The Mintec Benchmark Prices for standard 5% almonds FAS US were last assessed on 11th March at USD 1.78/lb, before the publication of the latest Almond Board of California shipment report. This is 2.2% lower than in a prior month and down 28.5% y-o-y as the market continues to be weighed down by excessive supplies in California.