Yesterday, May 12, 2020, the United States Department of Agriculture National Agricultural Statistics Service published the 2020 California Almond Forecast.
This forecast is carried out every year and it the methodology it uses is based on conducting a survey of a representative sample of almond growers, around 500 of whom participe in it.In this forecast, almond growers are asked about their almond yield per acre from last year and expected yield fo the current year.
The results show us a record numbers. For the 2020 California almond production is estimated in 3.0 billion pounds, which means an increase of 17,6% compared last crop. Regarding forecasted bearing acreage for 2020. There is a record high of 1,260,000. Forecasted yield is 2,380 pounds per acre, 10.2 percent higher than the 2019 yield of 2,160 pounds per acre.
For all this, we can say that we are facing an unprecedented harvest in California and with a similar demand to that currently year, prices should be lower for the next harvest. We will continue analyzing their trend to see what level they can be placed.
It is also correct to have into account the exceptional situation we have because of the Covid-19, which is causing certain instability and which prevents us from knowing certainty what the behavior market will be.
Fuente: United States Department of Agriculture National Agricultural Statistics Service