December 2003 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, 2003
2003 Net Marketable Crop (Received to date)

November 2003 (Million Lbs.)

162.0
877.5

235.8
455.6

Total Sold

Uncommitted Inventory (Not Sold)

691.4

348.1

Position Report

Total shipments for November hit 96.7 million pounds compared to last years all time record of 112 million pounds. The decline was expected, due to shipping difficulties last October. Remember the longshoreman’s lockout? That “chaos” created a bottleneck. When the lockout was settled it inflated the amount of almonds shipped in November. Total shipments now stand at 407.1 million compared to last years record 406 million pounds. Total crop receipts now stand at 914.1 million pounds with just two hullers still running. Most feel the 2003 crop will fall between 950-985 million pounds.

The Market

The market continues to stay in a holding pattern. Prices have remained stable this past month. Inquires seem to be quite typical for this time of year. We expect a bit more interest and activity in January with buyers taking positions before bloom. The best news is the Almond Board of California voted to lower the federal marketing order assessment by ½ cent per pound reducing the assessment from $.025 to $.02 per pound. That will be a saving to the industry of approximately 5 million dollars on the 2003 crop!

January Pool Payment

As a reminder the January pool payment is just around the corner. This payment will bring Nonpareil prices to $1.05 per pound and all other varieties to $.92 per pound. This payment will be available the week of January 5th. If you would like to pick up your payment please contact the office.

Holiday Office Hours

Our office will be closed beginning December 24th and will reopen on January 5th. Just a reminder that you can reach your field representatives by cell phone during this time.

Buyer & Seller of Quality California Almonds