December 2001 NEWSLETTER

8800 South Minturn Road
Le Grand California 95333 USA
Office 559-665-8500
FAX 559-665-8588

Almond Industry Position Report

Carry-in August 1, 2001
2001 Net Marketable Crop (Received to date)

November 2001 ( Million Lbs.)

107.3
737.5

203.2
382.4

Total Sold

Uncommitted Inventory (Not Sold)

585.6

259.2

Position Report

Total 2001 crop receipts as of November 30th are reported to be 768.3 million lbs. The crop is now sitting 81 million lbs. shy of the objective estimate (850 million lbs.). Shipment for the month are 78.5 million lbs. giving the industry 358.6 million lbs. shipped for the 2001 crop. This shattered last year's shipments record of 334.9 million lbs. from the same time period.

The Market for 2001 & 2002

With shipments setting a "blazing pace" and commitments up 46 mil lbs. over the same period last year there is room for "cautious" optimism. The ground the market gave up in November was not only taken back but has been surpassed in December. Users are beginning to recognize that supplies may be tight later in the marketing year. As a result the industry has experienced good interest for buying and prices have strengthened across the board on both current crop and 2002 crop. This momentum should carry on into the new crop year.

2001 Crop Pool Payment

As the holidays approach and another year comes to an end, this means that the January Pool Payment is just around the corner. The January payment will bring the Nonpareil price up to 65? per pound and the All Other varieties price up to 55? per pound. During this difficult time our goal is to get as much back to the grower in a timely matter. The January payment will be mailed on the 5th. If you want to pick up your check at the office please call and let us know.

Holiday Schedule

In celebration of the Christmas season we want to wish everyone a very Merry Christmas and a Happy New Year. Minturn Nut will be closed December 24th through January 1st. Be sure to contact us before that time if you have questions regarding your January payment.