Market participants surveyed by Mintec in the first week of July were expecting muted shipments and new sales ahead of the June position report, which is due for release on 11th July. Estimates for June almond shipments were reported in the range of 178-225 million pounds, with most market participants returning figures of 190-205 million pounds.
“Most of the industry seems to be expecting a shipment figure of around 200 million pounds, but there is a lot of potential for the figure to be higher or lower this month. Seasonal pools are well sold, and the final figure is likely to come down to how much call growers have been willing to sell, which is hard to pin a figure on,” a US exporter said to Mintec.
Market participants suggest this trajectory would put 2022/23 ending stocks around the 750 million pound mark. Based on the May position report inventory levels, this would require an average shipment level of 205 million pounds per month over the next two months (June-July).
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