Almond Market Update, page-37

Ahh, continuing with the lies and misinformation I see.

Guess it was too much to expect the resident downramper to wake up to reality.

This is a fantastic position report for the industry. Clearly the drop in almond price shows that demand for almonds is still rampant.

The US market has recovered from recent weakness with May domestic shipments are just 2.3% below the record May shipments. The average monthly (US) domestic shipments based on the previous two years was 53.38m pounds and May 2016 shipments were 53.36m pounds so US demand remains firm.

The overseas market however have shown a massive rebound as pointed out two consecutive month shipment records. If those two months were to continue for the next four months then the US would have almost entirely depleted their stocks of the 2015 crop and would need a record bumper 2016 crop to keep up with demand.

Given that there is no expectation of a record bumper 2016 crop then this provides a floor for the almond price with the almond price already having bottomed in previous months and an expectation of it increasing in the short to medium term.

The increase in almond pricing of recent years was always unsustainable. The positive thing is that with the return to more realistic pricing has seen the return of demand as shown by this latest position report. So demand has not been damaged by the high prices witnessed in recent years.