The Almond Supply Challenge: A Tough Transition in 2024

The almond market in 2024 is facing some challenges as it transitions into the new harvest season. With tighter supplies than usual, both domestic and international markets have felt the impact. In Sacramento, a major almond-producing region, the situation has slowed down exports.

Why the Shortage?

During the transition between the old crop and the new harvest, almond supplies have dipped. According to industry reports, US almond production for the 2023-2024 season was forecasted to reach 2.6 billion pounds, but the actual output fell short due to unfavorable weather conditions. The drop in production, combined with higher global demand, has created a tighter market.

Impact on Exports

Almond exports have taken a hit due to the limited supply. The US is the world’s largest almond exporter, accounting for over 80% of global exports. In 2023, almond exports reached 1.5 billion pounds, but the reduced supply this year has slowed down shipments. Key markets such as India, the EU, and China have experienced delays or reduced volumes, increasing pressure on international buyers.

What’s Next?

As more almonds begin to arrive from the new harvest, the tight supply is expected to ease. With the new season’s production expected to stabilize, experts believe shipments will resume at their usual pace. Historically, US almond exports bounce back during harvest transitions, and this year should be no different.

While the almond industry has experienced a rough patch during this transition, the numbers suggest that the supply chain will soon recover. With new almonds arriving, businesses and consumers can expect conditions to improve. It’s a temporary challenge, but one that the market is equipped to overcome.