Nut News: The March 2019 Almond Position Report with Select Harvest USA

+ more

Bob Nunes says

 

While almond shipments in March 2019 did not top the record shipping month seen at the same time last year, Select Harvest USA CEO Bob Nunes says shipping and sales for almonds are healthy this month. He attributes this to strong demand from an Indian holiday and steadying European prices. On Nut News, Nunes highlighted March 2019 as the third largest shipping March on record and shared record new sales generated in the month.

According to the Almond Industry Position Report for March 2019:

  • India’s particularly early Diwali season helped drive demand. The country derived most of the almonds demanded for the high religious holiday from 2018’s crop because the holiday fell earlier on the calendar this year and 2019 crops would arrive too late.
  • Europe’s almond market was very active this month and shows signs of stability. Nunes says he sees that consumers are purchasing almonds throughout the summer months, showing steady demand and leading to price stability on a month-to-month basis.
  • Demand for the Middle East was “spotty” as Ramadan approaches and the region makes use of its existing inventory, Nunes says.
  • China’s demand continues to be weak as the unresolved trade agreement between the country and the United States continues. “We’re hoping that to rebound for the 2019 crop,” Nunes says.

Also in this episode, Nunes highlighted the Terranova Trading annual crop estimate– one of the first to come out this year– and when to expect the National Agriculture Statistic Service’s subjective estimate, which helps determine current and new crop price.

The Select Harvest CEO also discussed supply and demand scenarios, and whether there will be price-spiking demand that exceeds the supply until the new crop arrives in September 2019.

To learn more about Select Harvest, visit selectharvestusa.com.

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

Latest

Airline Investors See a Post-Pandemic Rebound in Low-Cost Travel
April 14, 2021
(Bloomberg) -- New money is flowing to low-cost airlines in the U.S. as they take on giant carriers racing to recover from the unprecedented collapse in travel during the pandemic. Two established carriers that Read more
Cross-Sections: A New Industrialized Construction Podcast
April 14, 2021
  Cross-Sections brings to you bite-size conversations with host Anthony Gude, as he chats with colleagues and leaders in the construction and industrial ecosystem. Gude spoke with John Pugh Read more
What Regulations Will Get Drones Ready to Deliver to Your Front Door?
April 14, 2021
Both pilots and companies are navigating a thin line between security and innovation. Host Grant Guillot talks with leaders, influencers, and experts across the drone industry to guide us through the complex web of Read more