March nut drop clouds early-season almond crop, price prospects
By CnAgri
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Meanwhile, growers, reluctant to sell much volume at the current lower price levels, continue to hold a significant number of almonds off the market, says Ewing. However, as a result of the light demand, the relatively few growers and handlers in the market have offered sufficient product to keep prices stable.
Nevertheless, RPAC sees the potential making of a rebound in almond prices on the horizon.
“We’re already seeing the first signs of demand growth in emerging markets like Eastern Europe, the Middle East, India, and other parts of Asia,” Ewing says.
“The growth may become even more apparent, if we can get past more time of relatively stable pricing. As more buyers in established markets like Western Europe and North America have worked through high-priced inventory, we expect some growth in these regions as well.”
Meanwhile, until the likely size of this year’s crop becomes more apparent, growers remain uncertain, hoping for a slight or even moderate rise in prices, but recognizing the possibility for the market to remain soft in the near term.
