October 2002 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)

September 2002 ( Million Lbs.)

80.9
423.6

169.0
252.2

Total Sold

Uncommitted Inventory (Not Sold)

421.2

83.3

Position Report

Total crop receipts throughout September were 423.6 million pounds. California almond shipments for September hit a record 112.2 million pounds surpassing last years record for September by 11.8 million pounds. What is most impressive is this was accomplished in spite of the later harvest. October shipments are in jeopardy of slipping due to the labor dispute with the “Longshoreman”. By November we should be back on track shipping, and looking to eclipse last years shipments for November.

2002 Crop Harvest

We started receiving deliveries at a swift pace the first of September putting harvest 10 – 14 days later than last year. Quality has been good throughout the crop. The average inedibles are running under one percent with foreign material, chipped & scratched, and broken coming in lower than normal. Production on nonpareil and buttes has exceeded expectations. Carmel’s are hit and miss, depending on the severity of bud failure with all other varieties coming in up to projections. Weather has cooperated beautifully and as a result most growers have completed harvest. Although there are mountains of stockpiles left to be shelled. Total crop size is still difficult to determine because of the amount of crop left to be delivered. Based on receipts to date it is probably safe to assume the crop will be in the neighborhood of a billion pounds

The Market

The Buyer mentality of “buy it as needed” continues to exist in the market place. Prices have remained somewhat firm on larger sizes and have become sloppy on smaller sizes creating a two-tier market. We are still seeing a 30-cent spread between a 23/25 nonpareil and a 27/30 nonpareil size count. This price difference is huge compared to past years. Most markets continue to feel comfortable leaving their long-term needs left uncovered. This attitude may become a positive for California growers if shipments continue at current pace.

West Coast Dock Work Stoppage

Dockworkers, whose contract negotiations had been stalled, were locked out on September 29th after the Pacific Maritime Association accused them of deliberate work “slowdown”. President Bush ordered them back to work after a 10-day lock out. Unfortunately their productivity still remains below normal and California ports are still bottlenecked. The situation may remain slow for the next several weeks. Alternative shipping routes are being investigated and used by most shippers. End results will no doubt mean fewer shipments for October with November shipments increased.

USDA Grading

A variety will be marked “mixed” by USDA when the incoming is determined to have more than 10% dissimilar (an other variety) in the incoming sample. This year there seems to be an increase of “dissimilar” identified by USDA. This may be due to bloom overlap with the almonds reaching maturity at the same time. If you have any questions on a “mixed” variety listed on your Grower Received Summary Report please call the office or your field representative.

Minturn Nut Website

We are happy to announce we have launched our new website – minturnnut.com. This Internet tool will give us an opportunity to reach potential buyers worldwide. We have setup links to other useful website – weather, almond industry plus Minturn Nut’s newsletters. Check it out and give us some feedback.