Nut News: At 2018 Crop Year-End, Prices Are on the Rise

 

Nut News: At 2018 Crop Year-End, Prices Are on the Rise

With global demand for almonds strong, prices are on the rise as 2018’s crop year, which just ended July 31, saw record high numbers shipped out and record low numbers of carryout inventory. On today’s episode of Nut News, Bob Nunes, CEO for Select Harvest USA, one of the world’s largest almond distributors, lays out the market perspective for almonds at this crop year-end.

The 2018 crop year which ended July 31, 2019, set new records for shipping at 2.6 billion pounds, narrowly exceeding last year’s record of 2.25 billion pounds. The final year-to-date shipment record resulted in a carryout inventory of approximately 319 million pounds, which is the smallest since the 2012 crop, and as a percentage of shipment, one of the smallest on record, Nunes says.

“With a small carryout, a later harvest than last year by about 10 days, and a comfortly sold industry, the market has responded with higher prices,” Nunes says. “To complicate the situation, the industry is absorbing a lower than expected objective estimate. Both buyers and sellers are taking a very cautious approach to the forward sales for the 2019 crop.”

The Objective Estimate came in at 2 billion pounds, down considerably from the expected 2.4 or 2.5 billion pound crop.

Nunes says SelectHarvest has invested “significant dollars” into plant equipment with continued emphasis on improving quality and service, while at the same time increasing productivity.

“I just want the growers, who are very busy this time of year, to know how much we thank them for putting their trust into SelectHarvest,” Nunes says. “And we wish everyone a happy and dry harvest.”

For the latest news, videos, and podcasts in the Food & Beverage Industry, be sure to subscribe to our industry publication.

Follow us on social media for the latest updates in B2B!

Twitter – @FoodMKSL
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale

Follow us on social media for the latest updates in B2B!

Image

Latest

Next generation of security solutions
The Future of Security: Discovering the Next Generation of Security Solutions at ISC West
April 23, 2024

The recently concluded International Security Conference & Exposition West 2024 (ISC West) proved to be an indispensable platform for discovering the next generation of security solutions, providing attendees with invaluable insights into the future of the industry. At a recent episode of MarketScale’s roundtable show Experts Talk, Cathal Walsh, Vice President and Chief Security […]

Read More
Cyber Resilience: To Protect Corporate Assets, Businesses Must Invest in Cybersecurity Training
April 23, 2024

As cyberattacks occur at increasing frequency, cybersecurity has become a cornerstone of corporate security strategies across all sectors. With businesses increasingly reliant on digital infrastructures, the quality of a company’s cybersecurity training is no longer just an operational requirement — it is a strategic asset. The stakes are high, as a breach can lead […]

Read More
Forming Relationships with Industry Insiders Can Quell Sales Cycles and their Length of Time
April 23, 2024

New companies are facing more and more challenges in the security industry as sales cycles are experiencing lengthier times. One of those reasons is due to the complexity of the security industry itself, along with the unique and special business models every new company will come in with. But there is a solution to […]

Read More
Cyber-first approach
From Bollards to Bytes: Why Security Firms Need to Adopt a Cyber-First Approach
April 23, 2024

How can the security industry effectively navigate the shift from traditional physical security measures to adopting a cyber-first approach in its sales and integration strategies? The transition from physical to digital security solutions was a major theme at the International Security Conference & Exposition West 2024 held earlier this month. On a recent episode of […]

Read More