224037ABA Almond Insights 23+24-2V (clone) | Page 19

While the Australian almond industry ' s harvest season runs from February to April each year , the Northern Hemisphere ' s almond industries harvest between August and October . Californian shipments , or sales , for each marketing year are reported from August through to the following July . Californian almond production in the 2023-24 year , classed as marketable , was 2.397 billion pounds or 1.087 million tonnes . This was 4.86 % lower than their marketable crop for the previous year which was 2.519 billion pounds or 1.143 million tonnes .

Total almond production globally was 1.48 million tonnes . California represents 78 % of total supply and as such dictates the global pricing . Spain ( 115,337 tonnes ) is the third largest producer with Portugal emerging as viable stand alone origin , given that they have planted a lot of market-ready varieties in new developments in the south of the nation

COMPARATIVE $ AUD VS $ USD EXCHANGE RATES

$ 1.10

$ 1.05 $ 1.00 $ 0.95 $ 0.90 $ 0.85 $ 0.80

COMPARATIVE $ AUD VS $ USD EXCHANGE RATES

As the Californian industry sells most of the world ' s almonds , the global price is quoted in US dollars per pound . The return for the Australian almonds in our local currency is heavily influenced by the prevailing exchange rate between the Australian dollar and the US dollar . A strong Australian dollar delivers lower returns while a comparatively weaker Australian dollar delivers better returns once the US dollar price is converted .

During 2023-24 , the Australian dollar remained stable in the mid US $ 0.60s which was lowest annual average in many years . It should be noted that with farm inputs sourced from overseas such as fertilizer and orchard machinery , costs increase with a weaker Australian dollar .

$ 0.75 $ 0.70 $ 0.65 $ 0.60 $ USD

Jan-Jun Jul-Dec Jan-Jun Jul-Dec Jan-Jun Jul-Dec Jan-Jun Jul-Dec Jan-Jun Jul-Dec Jan-Jun Jul-Dec Jan-Jun Jul-Dec Jan-Jun Jul-Dec Jan-Jun Jul-Dec Jan-Jun Jul-Dec Jan-Jun Jul-Dec Jan-Jun Jul-Dec Jan-Jun Jul-Dec Jan-Jun Jul-Dec Jan-Jun Jul-Dec Jan-Jun Jul-Dec Jan-Jun Jul-Dec Jan-Jun Jul-Dec Jan-Jun Jul-Dec

2006 2007 200 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

US SHIPMENT BY REGION

CENTRAL / EASTERN EUROPE 2 %

LATIN AMERICA / CARIBBEAN 1 %

MIDDLE EAST / AFRICA 15 %

NORTH AMERICA 31 %

US NEW PLANTINGS & TOTAL HECTARES

* Not available at time of publication . Source : Almanac2023 – Estimated USDA , NASS / PRO , 1 September 2023

WESTERN EUROPE 23 %

ASIA PACIFIC 28 %

Source : 2023 Almond Board of California – Almond Almanac

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