The December Position Report revealed robust shipments for the current crop year, totaling 229 million pounds – the second-highest December on record. While down 4% from the previous month, this represents an 11% increase from last year. Export shipments continue to drive the momentum at 173 million pounds, a 12% rise from the previous year, while domestic shipments increased by 8% to 57 million pounds. Despite some recent loss of momentum, domestic shipments have regained ground, surpassing last year’s pace by 0.5%. Year-to-date total shipments maintain a healthy lead, extending to 9.9% over the previous season.
Shipments
India: Shipments for the month were 38.6 million pounds and represent a 16% increase to last year. Year-to-date shipments to India remain strong and now outpace last season by 28%. Local demand continues to be strong, and the industry is well-balanced due to supply constraints caused by delayed arrivals. All arriving products are moving directly through the system, with no cargo being stored. Importers have consistently profited since the beginning of the season. This is positive for the industry and should sustain activity through the month of January and on.
China/Hong Kong/Vietnam: Shipments to the region were 13 million pounds for the month. Year-to-date shipments gained momentum and are currently 21% ahead of last season’s pace, surpassing last year by 8%. Vietnam maintained a robust pace, now exceeding last year by an impressive 120%. Initially, California shipments to China were slow at the beginning of the crop year, as importers opted for cheaper options from Vietnam. However, activity revived in December, with the market processing and working though inventories in preparation for Chinese New Year. Consumer demand during the holiday will serve as a barometer for shipment expectations going forward.
Europe: December shipments reached 62.3 million pounds, up 4% from last year, contributing to a 9% year-to-date increase compared to the previous season. The region continues to perform well, positioning itself for the upcoming holiday season.
Domestic: December shipments came in strong for the month at 56 million pounds, up 8% for the month. This market gained some ground which put year-to-date shipments in a positive position, up .5%. Demand continues to be a concern for the largest market as commitments continue to lag month after month, now down 16% to last year. Buyers continue to evaluate their evolving demand and remain booking short-term positions.
The December Position Report revealed robust shipments for the current crop year, totaling 229 million pounds – the second-highest December on record. While down 4% from the previous month, this represents an 11% increase from last year. Export shipments continue to drive the momentum at 173 million pounds, a 12% rise from the previous year, while domestic shipments increased by 8% to 57 million pounds. Despite some recent loss of momentum, domestic shipments have regained ground, surpassing last year’s pace by 0.5%. Year-to-date total shipments maintain a healthy lead, extending to 9.9% over the previous season.
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