- Global almond markets remained mixed in H1 2026 as supply expectations balanced weaker consumption in some regions and firm export demand.
- Feedstock conditions were influenced by a slightly lower California crop outlook, with the 2026 almond crop forecast at 2.70 billion pounds.
- Downstream demand varied, with export markets providing support while domestic consumption remained weaker in key consuming regions.
During H1’26, almond prices in India declined from ~USD 10,492.86/MT in April to ~USD 9,872.00/MT in June, showing a ~5.9% decrease, while US almond prices increased from ~USD 1,002.27/MT in April to ~USD 1,018.00/MT in June, showing a ~1.6% increase. In North America, almond markets remained broadly stable during H1’26 as weaker domestic demand balanced tighter supply conditions. California domestic shipments through May declined 13.61% year over year, limiting upward price movement. However, export shipments increased 1.66% during the same period, while total available supply declined 1.24%, supporting market stability. In Asia, prices showed stronger volatility due to higher freight costs, route disruptions and supply concerns. Indian traders reported higher wholesale prices earlier in the period as international logistics costs increased, although weaker import activity later reduced buying pressure. California almond shipments to Asia-Pacific declined 8.9% year over year in May, with shipments to India down 26.1%, while Southeast Asia recorded stronger demand. The supply outlook remained supportive as the California crop forecast was slightly lower than the previous year, while orchard removals reduced productive acreage. Demand from food processing, snacks and plant-based beverages continued supporting consumption, while new nut-based processing initiatives improved long-term demand prospects.
Analyst Insight
According to Procurement Resource, almond prices are expected to remain balanced, with supply constraints and export demand supporting the market, while regional consumption trends will influence price direction.