California nut exports shine
Covid’s grip over the economy is receding and that includes key ag exports.
Despite the slippage in California’s overall export trade recently, the state’s tree nut exporters have seen positive results. Foreign shipments of almonds in the current crop year are at the highest level ever.Exports of the big-three nut crops are all important to grower profitability with their volume far higher than domestic shipments. But the numbers vary by year and as the result of tariff impacts. Both almonds and walnuts are enjoying record setting crops being marketed now.
Almonds lead the way
Almonds are the state’s leading agricultural export. In March 2021, total almond exports were almost 200 million pounds (vs 112 million lbs in March 2020) and year-to-date shipments were 1.44 billion pounds compared to 1.1 billion pounds for the same period a year ago. Exports are more than double the volume of domestic shipments. China exports year to date are 133 million pounds vs 84 million pounds for the same period in 2020. Shipments to Japan and Korea are also up this year.
The National Agricultural Statistics Service (NASS), estimated last summer that the 2020 crop will be 3.00 billion meat pounds, up 18% from the 2019 crop production of 2.55 billion pounds.
Boosting returns is an increase in almond price per pound recently as well.
Walnuts catch a break too
Meanwhile walnut exports are at their highest level since the pre-tariff war era in 2017. Shipments for March 2021 show exports for this marketing year at 392,472 tons vs 318,705 tons for the same period in 2020. Domestic shipments are about half the export number. Importantly, shipments on walnuts to China have surged 562% year to date.
Given that California got a record breaking harvest for walnuts this year and COVID-19 related slowdowns are decreasing, it could be argued that we will see export shipments of in-shell walnuts not only recover, but also set new records in the 2020 / 2021 marketing year says one analysis.
The 2020 California walnut production is forecast at a record 780,000 tons, up 19 percent from 2019’s production of 653,000 tons.
Pistachio exports up
Pistachios are harder to follow given they are an alternate bearing crop. The current crop is expected to add up to 1.1 billion pounds, a record, in this, an “on year”. Through February, exports are up about 15% over last year. New acreage is coming online every year.
Pistachios rank as the state’s second leading export with a value of $1.1 billion.“We are investing in our biggest advertising and marketing campaign ever to capitalize on this expansion in U.S. pistachio production,” said Judy Hirigoyen, APG Vice President, Global Marketing.