The information contained herein was prepared between mid-September and October 2024.
USA. The Almond Board of California’s second position report on the 2024/25 crop (August 2024 – July 2025) shows receipts of 1,035 million pounds (approx. 469,500 metric tons) of kernel weight through September 2024. Receipts were higher than in the same period in 2023, which was impacted by a delayed start to harvest. The USDA National Agricultural Statistics Service estimated the 2024/25 crop at 2.8 billion lbs. (approx. 1.27 M MT).
Shipments for 2023/24, totaling 2.692 B lbs. (1.22 M MT), were the second largest in history and were about 300 M lbs. (approx. 136,000 metric tons) more than total production, meaning that the carry-in inventory for 2024/25 is down 37% from last year. The reduced inventory was reflected in 2024 year-to-date total shipments (August 1 – September 30), which were down 11% from a year ago. Domestic shipments were down 5% for the first two months, and exports were down 14% at 264 M lbs. (119,00 MT). Despite a 1% decline, exports to India remain robust, sustaining the strong growth trend in this market. Exports to Europe were also down from a year ago while the Middle East was up by 36%.
Australia. As reported by the Almond Board of Australia, the industry is experiencing a strong 2024/25 selling season, driven by rising demand from China and India. August marked the third consecutive month of record-breaking sales, and the fourth in the last six months, despite rising prices. Total exports to China surged by 93% compared to last year, while Indian demand was recovering after a slow start, aided by the Australia-India Economic Cooperation and Trade Agreement. Although domestic sales remain flat, total export volumes are up 21%, at 88,090 MT kernel weight equivalent and in-shell sales reached a record level at over 47,000 MT, up from 27,000 last year.
The 2024/25 crop was updated to 153,550 MT, primarily due to lower yields from older trees. Late September frosts in key growing regions have raised concerns for the 2025/26 crop, with the full extent of the impact still being assessed at the time of reporting.
Spain. As of the time of reporting, the 2024/25 harvest was expected to be below earlier estimates. Various weather-related issues, including excessive rainfall in spring and drought in southeastern Spain, along with damage caused by extreme heat during the last two seasons, have reduced the yield. Some sources estimate the drop to be around 15% compared to earlier projections. Despite the lower yield, quality remains good, with sizes slightly larger than last year. A significant improvement in prices, which have risen by over 30% compared to the previous year, helped to improve farmers’ profitability after several challenging years.
According to AEOFRUSE, total exports for the 2023/24 season (August 2023 – July 2024) —encompassing Spanish origin and re-exports, both conventional and organic, as well as natural and processed almonds— reached 143,422 MT, an 8% increase from 2022/23. Western Europe, the primary market, accounted for 111,943 MT, a 6% rise from the previous season.
Portugal. As per Portugal Nuts reports, despite cold and windy conditions during the flowering period, both self-fertile and pollinated varieties showed satisfactory fruit setting, exceeding the output of the previous season. While the wet spring helped to meet water requirements, it also introduced challenges in disease management, which required continuous monitoring and interventions from producers.
Yield expectations, as of this report, varied across different varieties and regions. Warm and dry conditions during harvest facilitated smoother operations. Kernel sizes appear to be in line with expectations, with very good quality reported. The expansion of newly bearing hectares in central and southern Portugal is expected to support growth in production volume.
