California almond shipments hit new records in six of the seven months through March, and the volume of nuts sold is running 26 percent ahead of the year before, and unsold stocks supplies are rapidly dwindling.
Since last fall, almond prices have risen 10 to 15 percent, Phippen noted.
"There's just not a lot left in the cookie jar to buy," he said. "That's why everybody in the almond industry has to be excited at the news of another 2 billion-pound crop."
Just 10 years ago, such production was nearly unimaginable, Balmat said.
He recalled industry experts at the time were worried, voicing "The doom and gloom of a 1 billion-pound crop and what would we ever do with that."
The first billion-pound California crop, in 2002, was sold with relatively few hiccups, and annual production and nut prices have mostly been on the rise ever since.
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