Ann: Almond Update , page-29

S70 - The USA seems to think (gut feel talking to a lot of slightly grey haired people here) that the economy has started on a track upwards on its own. They see it as stable - at worst and slightly up is average some think its going to climb steadily.

Agri is seen as a stable and maybe positive outlook.

Cannot comment on base pricing events but I have not seen such a positive outlook for a long time. First time in over two years - people seem positive about property.

I thought Europe would be the downer - they dont see it being affected - comment - "Europe is a mixed bag always was always will be - Who really knows but they will keep consuming as a group and the strong will hold up the weak"

Almonds - Health is getting focused upon Cal counts everywhere even in Italian restaurants. Almonds ( more broadly nuts) are seen as better than dairy and Soy seems to have its detractors as well. Something to do with the processing method - I did not follow. Nuts are just good. could not agree more.

The simple offerings here are good and then they add every bad covering you can think of. Candied almonds - right up there even with Christmas colours. Its really the focus here - Not so much on the others Walnuts and almonds - Have not been offered a Brazil nut here , hazelnuts are not as prevalent as well. Almonds have done a great marketing job. The pharmacy fresh offerings also help as nuts get right up there.

I have become more comfortable with SHV whilst here - I think the US$ wont get back to historical highs but they will have inflation and that will help the A$ value we receive. Its the only solution over time to fix a debt problem as I see it. The only negative being our wage rate and no government support.