California shipped 229 million pounds of almonds in September, down 13% from last September, data from the latest position report shows.
Price spreads between kernel sizes are prompting some buyers to move to smaller, less expensive items.
The fall in new sales for August underscores the recent disconnect between buyers and sellers on new crop trade.
Almond exporters question whether a reduction in the vessel backlog at the port will alleviate shipping delays.
How Europe manages almond inventories following record imports from California could influence near-term prices in the global almond market.
High inshell prices have sparked record kernel trade to India.
Record shipments in July will help California end the 2020-2021 crop year with a carry-out of roughly 600 million lbs, according to the latest Almond Board of California (ABC) position report.
Views from experts in the field come as market participants question the drought’s impact on California’s longer-term almond production, which is impacting forward market prices.
The two reports deliver the most bullish news of the current crop year to participants in the global almond market, resetting prices.
As anecdotal evidence accumulates of almond acreage removal in California, market participants question how many acres are being removed and its impact on supply and market prices.