Minturn Nut Archives

Minturn Nut Archives

August 2004 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)

July 2004 (Million Lbs.)

162.0
991.6

Sold Shipped & Not Shipped
Domestic
Export

352.5
754.8

Total Sold

Uncommitted Inventory (Not Sold)

1107.3

46.3

Position Report

Shipments for July went through the roof completing another record smashing year for our almond industry. Shipments for July hit 74.4 million pounds compared to last years record of 59.4 million pounds for a 15 million pound increase. For the year, 1024.2 million pounds were shipped out of our industry breaking last years record of 982.3 million pounds for a 41.9 million pound increase. As we close out the 2003 crop uncommitted inventory is at our lowest level in years sitting at 46.3 million pounds. Shipping a billion plus pounds with improved pricing was huge for our industry this past year. Our industry is obviously in position to have a terrific 2004 crop year so lets enjoy it. Good luck with harvest.

Delivery Payments

Minturn Nut Company is pleased to announce our best on delivery payment in years: Nonpareil at $0.80 per pound and all other at $0.70 per pound. Delivery payments will be made twice a month as we receive your crop.

Harvest

Almonds hit the ground on the third week of July to begin harvest. This is a good two weeks ahead of last year. Quality is pretty good so far with ant damage being the main inedible culprit. Kernel sizes are smaller than last year, but larger than 2002 with 23-25 and 25-27 being the most common sizes. Field weight to meat weight ratios are lower than last year by 2 to 3% so far indicating that the yields may be lower than projected. However this report is based just on a few early deliveries.

Market

The market came back to life about two weeks ago. Presently the best way to describe today’s market is that it’s “on fire”. The primary factors driving today’s market are: weak dollar, through-the-roof shipments, and a shortage of other world tree-nuts resulting in historical high prices. It always makes you a bit nervous when talking about historically higher prices, but at this point it appears that all the fundamentals are in place to keep prices propped up.

2004 Contracted Growers

Deferments: If you want to defer any or all payments for the 2004 crop a “Deferment Authorization” form (mailed out last week) must be signed and in our office prior to receiving your almonds. If you have any questions call your Field Representative.
Grower Received Summary Reports are faxed out to the grower on a daily basis (as soon as they are input into our system). If you have a fax machine and are NOT receiving your Grower Summary call the office so we can get you on our FAX list. Would you like your newsletter faxed or e-mailed instead of snail mail. If so call the office.
USDA Incoming Grades: As you know,all almonds are graded by USDA. If you have a question regarding a specific grade contact your Field Representative. They can review the grade with you and discuss your options. It is important this be done as soon as possible.

Buyer & Seller of Quality California Almonds

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Buyers & Sellers of Quality California Almonds

Minturn Nut Company Inc.
8800 S. Minturn Road
Le Grand, CA 95333-9711 U.S.A.
Phone (559) 665-8500 • Fax (559) 665-8588

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