Bamby, I have been keeping an eye on the almond price, though the websites that report on it are regional ones and so I am reluctant to reproduce the information here unless I can see the information on the price movements is backed up by at least a couple of sources.
However, so far this year I have come across three sites suggesting an upward movement in the almond price. This is not what I expected but all the same the evidence does seem to be pointing in that direction.
The usual Indian website that infrequently reports on the almond price had an update on January 3:
...Almond prices edged up by Rs 200 per 40 kg in the national capital today on the back of increased buying by retailers and stockists and pick up in demand from bulk consumers.
Further, tight stocks following fall in supplies from overseas markets also supported the uptrend.
Almond (California) prices quoted higher by Rs 200 to Rs 17,000-17,200 per 40 kg and its kernel rates also edged up by Rs 10 to Rs 600-610 per kg.
Convert that into Australian dollars and kilos at the current exchange rate and you get about $8.3-8.4 for a kilo of almonds.
In the AGM presentation announcement of 25/11/16, the company stated that the almond price was hovering between $7.50-8.00 per kilo, so if that Indian website is correct, by the first week of January of the new year the almond price had risen by about 5%.
What adds a bit of credence to the suggestion of a stronger almond price is that a second, different Indian website reported on the rising almond price just yesterday:
New delhi: Almond prices rose by Rs 100 per 40 kg in the national capital today largely on the back of increased offtake by retailers and stockists driven by winter season demand
Besides, fall in supplies from overseas markets supported the uptrend.
Almond (California) prices were up by Rs 100 to Rs 17,200-17,400 per 40 kg and its kernel rates were also higher by Rs 5 to Rs 605-615 per kg.
So the other website was saying the price was 17,000-17,200 on Jan 3, now it seems to be up a bit more to 17,200-17,400, or about $8.40-8.50 Australian dollars for a kilo of almonds.
So, there is some evidence to suggest the almond price may be on a bit of an uptrend, up about 6 or 7% since Select last gave an update on the almond price back in November.
SHV Price at posting:
$6.38 Sentiment: None Disclosure: Held
