November 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, 2002
2002-03 Net Marketable Crop (Received to date)

October 2002 ( Million Lbs.)

80.9
739.9

196
370.9

Total Sold

Uncommitted Inventory (Not Sold)

567.5

253.3

Position Report

In spite of the shipping difficulties at West Coast docks this past month, total shipments reached a record 127.7 million pounds. This is an increase of 7% over last years’ record shipments for October. Total shipments for the 2002 crop year now stand at 293.9 million pounds, a boost of 14 million pounds over last year’s record pace. The industry may have shipped 140 – 150 million pounds for October if it weren’t for the shipping debacle. Crop receipts at the end of October stand at 770.9 million pounds, which is roughly 100 million pounds over last year at the same time. Most industry people believe the crop will reach the ONE BILLION pound mark!

The Market

With the release of the ABC October Position Report a feeling of renewed confidence took place amongst sellers of almonds. Prices have slightly improved; with the best news being that end users seem to be interested in long term contracting opposed to “hand to mouth” buying. The Industry is over 50% contracted with eight and one-half months of contracting left in the year. Shipments for November and December should be strong surpassing shipments for the same period last year.

2002 Grower Pool Payment

The January Pool payment will increase grower payment levels to the following: Nonpareil $.76 per pound and all other varieties to $.65 per pound. The target date to mail checks will be Monday the 6th of January. Remember the office is usually closed from Christmas until the after the New Year Holiday so be sure to contact the office if you need the payment before the end of the year.

Incoming USDA Samples

As stated in the grower contract USDA samples will only be held 60 days from the date of inspection. After that time the samples will be processed. The crop this year has been extremely clean resulting in less than a handful of retest requests.

30th Annual Almond Industry Conference

On December 4th and 5th the Almond Board of California will hold the 30th Annual Industry Conference in Modesto at the Modesto Center Plaza. They have several scheduled programs and speakers. Growers are welcome to attend. For more information you can contact ABC by phone, check our website www.minturnnut.com or the Almond Board website almondsarein.com.