Published On : 28-Sep-2021
Findings from the latest US Almonds export data reveal remarkable numbers for the global trading community. America remains the world’s top exporter of almonds with upwards of 60% global market share. In the first six months of 2021, US almond exports were valued at about $267 Million. As has been the case in the past few years, India was the largest importer of America’s almonds, this year at 74.4% of the export value.
The average almond export price in 2020 was $3,676 per tonne. US Almond exports have been dropping for quite some time now. The first signs of the slump were seen when American-Chinese relations soured during Donald Trump’s presidency, though India was able to absorb most of the lost export volume. Yet to this day, Chinese almond imports from America rank at 10.1%. But the COVID19 pandemic has transformed the global trading landscape irrevocably. Shipping prices are higher than ever. Export rates are plummeting. The world economy is battling a recession-like situation.
Our experts at cybex.in have been mulling over the USA Almond export research and we have been able to reach key factors resulting in the present state of affairs.
The pandemic has wrought destruction on export markets. The effects of this crisis are in stark difference from others in the past since the effects of COVID19 on global trade are largely indiscernible. It could range from a more mild bump to an earth-shattering hurricane. There can be no exact telling.
On first impressions, however, COVID19 has disturbed traditional trade routes worldwide and has ushered economics into as yet unchartered territory. This goes for Almond exports as well. Seldom has America registered a significant downfall in the export of any item, let alone almond at that. In 2020, US was able to export $868 Million worth almonds. Projecting the first six months of 2021 to the year, we find a drop of about 40%.
The American almond export community is very cohesive especially in California where the Almond Board of California reigns supreme, supporting the industry with its various incentives, initiatives and plans.
Rising global temperatures have affected droughts in many parts of the world, including California, the largest almond producer in the United States of America(surely, you would’ve bought some California almonds one time or another). Farmers are having to pull out trees that are old and require more water to produce the almond crop. They let the younger trees stand that require lesser water to produce a feasible crop. The older trees are economically yet mercilessly removed as they can’t withstand the terrible drought, let alone produce a yield.
This Almondemic in the farming community of America has a sinister parable: when during the COVID19 pandemic, overworked doctors around the world had to cherry-pick their patients with the highest survival chances.
If the effects of rising global temperatures are not curbed, especially in the golden state of California, we could see successive droughts, rising almond prices and consequently, falling US almond exports. This would also mean that opportunities could arise for local Indian farmers to fill the void left by falling US exports.
The United States of America
India(74.4%), China(10.1%), Hong Kong(3.7%), Turkey(2.5%)
Cybex.in has mined tonnes of import-export data that will help your firm reach your trade goals. Reach us at *[email protected]* or call(+911204517800) or WhatsApp(+9971093718) to access the latest US Almond export numbers.
