Get the latest insights on price movement and trends analysis of Almonds in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Almonds Price Trends for First Half of 2023
The prices of almonds inclined in the first and second quarters of 2023, especially in the North American market. In the initial months of the first quarter, the almond market was hit with rough weather conditions that severely impacted the price trends. In North America, after a long season of drought and a restricted water supply, the rainfall in this winter season helped farmers increase their outputs.
As the supply sector was slow in regaining its momentum after a weak sowing season and reduction in the area sown while the demand inclined dramatically, widening the gap between them. This disbalance in the supply-demand dynamics positively impacted the price trends of almonds.
However, the ongoing Russia-Ukraine war and the disruptions in the trade routes caused by it affect the buyer's purchasing potential. In addition, the hike in interest rates and rising inflation also affected the almond market.
According to Procurement Resource, the price trends for Almonds are estimated to follow an upward trajectory in the upcoming quarter. The rising demand and limited supply of almonds are broadening the gap, which seems to favor the rise in the prices of almonds in the forthcoming months.
Almonds Price Trend for the Second Half of 2022
The prices of Californian Almonds shot up by 10% in the said period as the rupee depreciated drastically against the US dollar. To meet the rising demands for the upcoming festivities, the Indian government looked for cheap imports from Syria and Afghanistan.
In the USA, amid the labour shortages and truckers’ strike, the product flow through the Oakland port was disrupted causing logistical issues. Hence, the price trends for almonds soared dramatically globally during the said period.
For the Second Quarter of 2022
Due to the delays in the shipment from California, India is looking for new contracts to meet its increased demands during the upcoming festive months. In contrast, the almond price trends in China on the lower side as a result of low market sentiments because of the Chinese New Year. However, the buyers are returning to the market but with limited buying capacity. Hence, prices are rising steadily as compared to any sharp increase.
With over 96% of California experiencing drought-like conditions, the almond farming sector is immensely compromised. Its repercussions can be felt far and wide in the international market. Due to the increased shipping challenges and the labour shortage, California almond prices saw an upward trends. The average price of Californian almonds varies between 5.88 USD/kg and 6.02 USD/kg.
For the First Quarter of 2022
Following record rainfall in California and a rise in the rate of shipments, worldwide almond prices fell in the first week of January. These two positive factors most likely contributed to the price drop. In December, California saw a lot of rain and snow, with the most of it falling in the last two weeks of the year. For March, almond prices were recorded at 1.99 USD/lb.
For the Fourth Quarter of 2021
In the final quarter of 2021, almond harvest in Australia had been completed after a slow start due to heavy rains in the region. The shelling and hulling results show that the crop yields for 2021 were better than those of the previous year in terms of kernel and quality. The Australian Dollar was growing stronger and the global prices were low. New plantings had also been reduced.
The California market for the commodity was strong and the Covid-19 pandemic had caused major disruptions but in spite of that the exports were very high, being close to 80000 metric tonnes. The harvests in the southern and northern hemisphere were being consumed simultaneously which caused a market overlap. The domestic consumption had risen by 7% during the lockdown period.
The production was impacted in both Europe and America. Europe experienced more imports from United States and Australia. The production region is in Spain which produces more than half of the total produce in Europe even though most of the area is rainfed. The consumption in Europe had increased and inventories depleted.
Drought issues still continued to affect the almond market in the US. The navel orange worms also were the major concerns in the final quarter of 2021. The demand for the commodity had increased. Crop receipts had been slow, almond prices were low, and dwindling stocks in Europe were bullish factors in the almond market. Along with this, there were other challenges like shipment problems and water supply issues.
For First, Second and Third Quarters of 2021
China imported great quantities of almond as a result of the increasing demand from manufacturers in the food industry. Average almond prices in China in the first three quarters in 2021 was 3420 USD/MT. The imports in India also increased by nearly 20 percent, close to 130,000 tonnes. In the first quarter of 2021, almond prices in India were 3370 USD/MT.
The production in Australia rose by 14%, close to 145,000 tons. The major production regions in Australia are Sunraysia and Riverina, where the major water supply comes from the Murray River. Exports from Australia increased by 20% close to 900,000 tonnes amid high demands from Europe and China. In the first quarter of 2021, average almond prices in Australia were 4610 USD/MT.
In Spain and Italy, the production was down by 15%, close to 124,000 tons as the yields were cut due to frost. The imports were also lower than expected as consumption was low. Average almond prices in the first three quarters of 2021 in Spain was as low as 3040 USD/MT.
The major concerns for almond producers in the US have been drought and insect damage. In the third quarter, the sellers in the US were cautious to sell their supplies due to anticipated droughts in future, which caused price hikes in the region. Almond prices rose from 3340 USD/MT in the first quarter to 4450 USD/MT in the third quarter of 2021. Other major challenges were shipping difficulties and delays in shipments.
For the Year 2020
China and India have been the major importers and key growth drivers in the almonds industry. The consumption had dropped during the pandemic but later picked up as the lockdown was lifted and the economies expanded. Their demand rose along with the increasing supply. Australia had seen a significant rise in the almond production and acreage in 2020 with the total production being 111,000 tonnes.
The major exports are sent to China and Hong Kong, after being grown mostly in the Murray-darling Basin region. The region however faces challenges such as limited availability of water resources. Australia is one of the chief competitors of California grown almonds in the international market. Their average price in Australia in 2020 was 3705 USD/MT.
Western Europe witnessed limited growth in almond production and export. The major importers of the commodity in Western Europe are Spain and Germany. Spain had earlier been a major exporter and producer but its production dropped due to less domestic demand.
Nonetheless, the market in Europe grew due to the rising demand for almond milk. The average price in Spain in 2020 was 4175 USD/MT. Almond prices fell in the first quarter due to the covid-19 pandemic but recovered by the end of the year 2020 as lockdowns were lifted.
California is a largest producer of almonds in the US and one of the dominant players in the global market. In the recent decades, California’s almond industry witnessed major growth from a production of 2.8 billion pounds in the year 2020.
In 2020, the prices in California dropped to 1.83 USD/lb due to the numerous factors such as the disruptions caused by the Covid-19 pandemic which reduced the demand and consumption of almonds and the US-China trade dispute.
Gradually, the prices rebounded to pre-pandemic levels. They have mostly been stable in spite of the increased expansion in supply in both domestic and international markets.
Procurement Resource provides latest prices of Almonds. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
The almond tree, also known as Prunus dulcis, is native to Iran and surrounding countries. The fruit of this tree is a drupe, comprising of an outer hull and a hard shell with the seed. The term almond generally refers to the edible and extensively cultivated seed of this tree. These seeds, that is, almonds, are a rich source of protein and their consumption may reduce the risk of heart disease, further offering several health benefits.
|Industrial Uses||Snacks and bars, Milk substitutes and ice creams, Bakery and confectionery, Nut and seed butters, RTE cereals, Others|
|Supplier Database||Blue Diamond Growers, Wonderful Pistachios & Almonds LLC, The Almond Company (Harris Family Enterprises), Mariani Nut Company, Panoche Creek Packing, Select Harvests Limited|
|Region/Countries Covered||Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America: United States and Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
|Currency||US$ (Data can also be provided in local currency)|
|Supplier Database Availability||Yes|
|Customization Scope||The report can be customized as per the requirements of the customer|
|Post-Sale Analyst Support||360-degree analyst support after report delivery|
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Almonds, directly obtained from the almond tree, are filled in the receiving pit. From this pit, they make their way up a screw and spiral conveyor to screens that begin the process of removing dirt, sticks, and leaves from the almonds, thus sorting them and preparing them for further packaging and sales.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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