From reading the AGM updates, looking at prior year crops and from reading inchiquin’s posts about almonds being biennial crops makes it clear that the 2017 crop was particularly disappointing because this should have been an up year hence why next year’s hypothetical crop is under 16k tonnes.
Given the disappointment of the 2017 I am hopeful that they are being conservative in their comments about the prospects for the 2018 crop and we see a surprise on the upside.
Ann: SHV AGM Presentation and Crop and Market Update, page-5
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