| Almond
Industry Position Report
Carry-in
August 1, 2002
2002 Net Marketable Crop (Received to date) |
March
2003 (Million Lbs.)
80.9
1,035.8 |
|
Position
Report
Almond
shipments for March continue on a blazing record pace. In March, shipments
hit 64.5 million pounds compared to 57.7 million pounds last March. Total
shipments for the year now stand at 707.5 million pounds, this again is
an increase of 93.8 million pounds over last years record. Assuming that
the industry will continue on this record-shipping course, total shipments
for the year will hit the 925-950 million pound mark. Carry-in to 2003
harvest would then be a manageable 170 to 190 million pounds. Based on
these new demand levels it appears a crop in the neighborhood of 850 million
pounds for 2003 may bring supply and demand into balance and possibly
make availability of some sizes and grades tight.
Final
2002 Pool Payment
In keeping consistent with Minturn Nut’s goals to finalize
early, we are pleased to announce final payments will be mailed
on April 15th. Comparing 2002 crop return’s with the recent
years, final prices are good when you take into consideration the
industry produced a record crop of 1,079.0 million pounds (100 million
pounds over the objective crop estimate). We also encountered the
smallest kernel sizes in memory and a longshoremen’s dock
strike during our heaviest shipping period. Our final return will
include bonuses for growers with three-year contracts paying those
Growers up to an additional three cents per pound. Approximately
90% of grower tonnage is represented in a 3-year contract. We feel
confident that by the time other handlers announce and pay their
final prices over the next 6 months, Minturn Nut’s 2002 crop
returns will be competitive. (For example $1.23 per pound on Nonpareil
with 3 year contract.) |
| Variety |
Price |
| Nonpareil |
$1.20 |
| Sonora |
$1.05 |
| Carmel |
$1.01 |
| California |
$.98 |
| Butte/Padre |
$.98 |
| Mission |
$.95 |
|
Grower Contracting
Minturn Nut is currently contracting with growers for our seasonal pool
for both 2003 and future crops. Minturn Nut offers one-year evergreen
and three-year contracts with a bonus incentive for growers signing a
three-year contract. Our payment schedule is aggressive and our five-year
return comparisons stand up well against any handler in the industry.
If you have any questions please call our office. For those growers already
contracted with Minturn Nut for the 2003 crop, we appreciate your business
and we’ll continue to work hard to insure a profitable return.
2003 Crop Report
Now that the almonds are visible, crop “guestimates” are beginning
to be made by those bold enough to throw their number out there before
the subjective crop estimate. The varieties that are most disappointing
are Nonpareils and all varieties that bloom before Nonpareils. Carmel’s
are a bit spotty, with Butte, Padre, and Monterey’s looking the
best. When considering the size of last years crop coupled with possible
wet weather during bloom, most growers are pleased with their crop potential.
Opinions on total crop size range from 800 million pounds on the low side
to 930 million pounds on the high side. Realistically, the crop is probably
in the range of 850-875 million pounds, giving us a 1,630-pound per acre
average compared to last years record smashing 2,037 pounds per acre average.
Grower
Appreciation BBQ- May 2nd
Be sure to join owners and staff for Minturn Nut’s
4th Annual Grower Appreciation BBQ. Mark your calendar for May 2nd –
Friday. Plant tours & contests start at 11:00 am. Lunch will be served
at noon. We look forward to visiting with you and encourage you to bring
your almond-growing neighbors.
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