The almond oil market experienced mild downward pressure during the third quarter, primarily driven by substantial increases in upstream almond production and heightened import activity across key consuming regions. American almond production reached unprecedented levels during the harvest season. This abundance of raw material availability created favourable conditions for processors, though market participants remained cautious about inventory management given the scale of supply increases.
Import volumes into major consuming markets showed marked increases during the period as nations like India geared up for the festive season. This increased import activity contributed to elevated inventory levels across distribution centres. Market sentiment remained cautious as buyers adopted wait-and-see approaches, expecting further price adjustments. Traditional seasonal consumption patterns showed mixed signals, with some anticipating temporary demand increases during festival periods, though overall demand outlook remained tempered by substantial inventory overhang.