The demand/consumption for almonds is very strong. The almond market is stable with firmer undertones because of this. Shipments in both May and June exceeded expectations, setting domestic records and a total industry record in June. Unlike last year, these shipments were not the result of disposing of distressed cargo or liquidation of excess inventory, but rather fulfilling real demand as consumption in most markets has grown. In 2016 buyers adopted a new buying pattern of covering hand to mouth with little speculation and limited hedging of new crop.

Prices were attractive and relatively stable. For this year we are seeing more of a return to longer spreads / coverage and positions being taken.