Ann: Results Announcement 31 March 2021, page-18

I'll certainly admit that I didn't ever consider the root profile of the trees being a potential drag on production stemming from early rain, I'd suspect you know many things that I do not about Almonds.

Re media reports, I personally think that this one trumps all the others: https://www.farmprogress.com/tree-nuts/californias-bearing-almond-acreage-increase-2021

I pay the most attention to those that are putting their nuts on the line , over journalists and wage earning experts who have various motives for what they say or publish. These farmers are expanding acreage and are even doing so in the face of the sustainable groundwater act coming into effect last year (that I will not pretend to have looked into in any detail) and drought last year.

I cannot deny that it looks like a crisis appears to be brewing from reading media reports, but these farmers think they have a 30 year crop at least I assume. It would be interesting to hear their opinions, if they were to be open about the situation.

At some stage maybe there will be a nasty shock - but will it be in 50 years with almond production double what it is now, or will it be next year or never? I would bet at least 30 years away based on what farmers are doing. The environmentally conscious part of me sees crisis in so many places, especially impacting the oceans and biodiversity, but the sharetrader in me sees a continuation of trends in California, and bets on those who have analysed things in great detail, and have decided to take on risk for reward.

cheers for your helpful and detailed response