This second half of April has been marked by marked by rather warm weather and less usual rainfall than in the first part of the month. than in the first part of the month. In fact, it could be said that the atmosphere has been summery.
In general, we can now consider the flowering to be over and the weather conditions this year, as we have already mentioned, have been excellent. This does not mean that we should not comment on what we have already said on previous occasions. We have observed, in the traditional almond trees, that the view of the tree is beautiful, but they do not have a lot of almonds. Fat ones, yes, but few. On the other hand, the new plantations, which are the ones that are going to carry the weight of the harvest, look quite good. In fact, perhaps this year, for the first time, irrigated crops will exceed dryland ones in terms of production. These plantations are becoming more and more important and, especially due to the areas where they are located, the risk of frost is lower each year.
Here are some photographs of our visit to the area of Caudete (Albacete).
As for flowering in California, we already have the data provided by Newfoundland, with a crop estimate of around 2.96 blb. crop estimate of around 2.96 blb. This suggests that the crop is going to be record-breaking and we will find ourselves in a scenario never seen before, both there and in Spain. and we will find ourselves in a scenario never seen before, both there and in Spain, in terms of a large crop. in terms of a large crop. We will see how this quantity of almonds will be managed, but in order to promote but in order to boost consumption it will have to be reflected in the price. reflected in the price.
In terms of prices, we have seen a very seen a very sharp drop in prices for American almonds, triggered by the news of the aforementioned caused in the light of the aforementioned estimation news of last Friday, 24 April, known as "black Friday". Friday 24 April, already known as "black Friday". Prices fell from 2.20 $/lb if we talk about Std 5% both current and new crop to lower peaks of 1.91/1.92 $/lb. 1.91/1.92 $/lb. The latter part of the month has seen very strong demand at these low prices. demand at these low prices, as opposed to the low activity of the first part of the month at higher prices. first part of the month at higher prices. In fact, a small rebound effect, so much so that demand was so strong that the price fell back a little a little to reach a level of 2 $/lb over the course of the days. In this way, the lack of demand the lack of demand has been boosted and we will see if it can compensate for the lack of activity in the first part of the month. of the first part of the month.
With respect to the Spanish almond, it has remained a has remained a mere spectator in the face of the American situation. We have gone as a result of the drop, from 5.10/5.15 €/kg and new crop to 4.80 €/kg in terms of the 4.60 €/kg for the current crop and 4.40 €/kg for the new crop. Without However, at these prices, which are now more in line with American prices, activity has also not been motivated activity in the face of a very inactive Europe. Perhaps because this correction has come late, when the American one had already been quite active. activity.
It is curious to see how at attractive prices attractive prices, demand does not take off. Nor does the supply side accept this situation, which remains impassive and supply, which remains impassive and with little activity. Perhaps the plug is in the the shell, which does not come out and causes the seller to find himself tied up. tied up.
With regard to Organic, we have also we have also seen a drop, not only in activity, but also in prices, from the current prices, going from 10.70 €/kg current harvest to below 10.40 €/kg. 10.40/kg. The new crop is being talked about below 9 €/kg. We will see how it evolves, as this harvest is almost over, but with a view to the new harvest, in view of the possibility of having a normal quantity of almonds, the price may continue to fall and this is what is expected. and this is what the buyer is hoping for.
In conclusion, we must be aware that difficult times lie ahead. that difficult times lie ahead. Not only because of the uncertainty caused by COVID-19 and how consumption is going to evolve, but also because of all the news that has been news lately and the lack of activity. It is worrying to see that at very similar prices to American almonds, Spanish almonds are still not coming out. These are times of swings, of news that change markets and, above all, of having to have and be very attentive to events. We hope this information will be of help.
