USDA Subjective Almond Forecast comes in above industry expectations

The USDA Subjective Almond Forecast, published on 12th April, estimated the 2023 Californian almond crop at 2.50 billion pounds, down 3% from last season but above existing industry estimates. The USDA pegged yields at 1,810 lb/acre, compared with the Wonderful yield estimate of 1,731 lb/acre and the Terra Nova Trading yield estimate at 1,650 lb/acre.

The estimate took sellers off guard with the majority spoken to by Mintec suggesting that the USDA estimate was higher than the situation on the ground would suggest, with one handler saying, “there is too much variability this season for a phone survey to capture the real situation.”

The next major look at 2023 production will come in the USDA Objective Almond Estimate which is due for release on 7th July.

For more information:
Mintec Ltd
Gloucester House Unit Q,
Bourne End Business Park,
Bourne End, SL8 5AS UK
US +1 (781) 491 4449
UK +44 1628 642 482

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