The USDA-NASS's 2024 California Almond Objective Measurement Report anticipates a harvest of 2.80 billion meat pounds, a 7% decrease from the earlier Subjective Forecast. This estimation follows a period of solid bloom amidst economic hurdles for growers and a record-setting pace of almond shipments, marking a consecutive 10-month streak of at least 212 million pounds shipped.
Clarice Turner, president and CEO of the Almond Board of California, noted the Objective Measurement aligns with industry expectations, highlighting the strong, consistent demand that has led to a potentially historic low in carryout. Turner also mentioned the expectation for the almond supply to mirror the previous year's availability, attributing it to a balance between the increased crop size and reduced carryout.
The 2023 harvest yielded 2.47 billion pounds, falling short of the Objective Report estimate by 5%, underscoring the challenges in forecasting amid variable weather and economic conditions. The report also details favourable weather conditions during the bloom period of the 2024 crop, despite increased pest and disease pressure in April and the necessity for heightened irrigation due to heat waves in June and July.
Source: almonds.com