U.S.: Almond Market Overview 2021

Almond Market Size in the U.S.

After four years of growth, the U.S. almond market decreased by -X% to $X in 2020. Over the period under review, the total consumption indicated tangible growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2011 with an increase of X% year-to-year. Almond consumption peaked at $X in 2019, and then contracted notably in the following year.

Almond Production in the U.S.

In value terms, almond production contracted dramatically to $X in 2020. in general, production saw a pronounced increase. The growth pace was the most rapid in 2011 when the production volume increased by X% against the previous year. Almond production peaked at $X in 2019, and then declined remarkably in the following year.

The average yield of almonds in the U.S. reduced to X tonnes per ha in 2020, stabilizing at the previous year. Over the period under review, the yield continues to indicate a mild descent. The growth pace was the most rapid in 2011 with an increase of X% year-to-year. As a result, the yield attained the peak level of X tonnes per ha. from 2012 to 2020, the growth of the average almond yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2020, the almond harvested area in the U.S. expanded rapidly to X ha, with an increase of X% against 2019 figures. Overall, the total harvested area indicated a remarkable increase from 2007 to 2020: its figure increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, almond harvested area increased by +X% against 2007 indices. The pace of growth was the most pronounced in 2019 when the harvested area increased by X% year-to-year. Over the period under review, the harvested area dedicated to almond production attained the peak figure in 2020 and is expected to retain growth in the immediate term.

Almond Exports

Exports from the U.S.

In 2020, shipments abroad of almonds increased by X% to X tonnes, rising for the second consecutive year after two years of decline. Overall, exports saw a remarkable increase. The pace of growth was the most pronounced in 2009 when exports increased by X% year-to-year. Over the period under review, exports attained the peak figure in 2020 and are expected to retain growth in the immediate term.

In value terms, almond exports expanded slightly to $X in 2020. Over the period under review, exports saw a prominent increase. The pace of growth appeared the most rapid in 2008 with an increase of X% against the previous year. Exports peaked in 2020 and are likely to see steady growth in the immediate term.

Exports by Country

India (X tonnes) was the main destination for almond exports from the U.S., with a X% share of total exports. Moreover, almond exports to India exceeded the volume sent to the second major destination, China (X tonnes), sevenfold. Hong Kong SAR (X tonnes) ranked third in terms of total exports with a X% share.

From 2007 to 2020, the average annual growth rate of volume to India amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+X% per year) and Hong Kong SAR (+X% per year).

In value terms, India ($X) remains the key foreign market for almond exports from the U.S., comprising X% of total exports. The second position in the ranking was occupied by China ($X), with a X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value to India totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+X% per year) and Hong Kong SAR (+X% per year).

Export Prices by Country

In 2020, the average almond export price amounted to $X per tonne, shrinking by -X% against the previous year. in general, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of X% y-o-y. The export price peaked at $X per tonne in 2014; however, from 2015 to 2020, export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. in 2020, the countries with the highest prices were India ($X per tonne) and the United Arab Emirates ($X per tonne), while the average price for exports to Turkey ($X per tonne) and Hong Kong SAR ($X per tonne) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates, while the prices for the other major destinations experienced more modest paces of growth.

Almond Imports

Imports into the U.S.

In 2020, after two years of growth, there was significant decline in supplies from abroad of almonds, when their volume decreased by -X% to X tonnes. in general, imports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% year-to-year. Imports peaked at X tonnes in 2015; however, from 2016 to 2020, imports remained at a lower figure.

In value terms, almond imports contracted rapidly to $X in 2020. Over the period under review, imports, however, recorded a strong increase. The pace of growth was the most pronounced in 2015 with an increase of X% y-o-y. As a result, imports reached the peak of $X. from 2016 to 2020, the growth imports remained at a somewhat lower figure.

Imports by Country

In 2020, Australia (X tonnes) constituted the largest almond supplier to the U.S., accounting for a X% share of total imports. Moreover, almond imports from Australia exceeded the figures recorded by the second-largest supplier, Spain (X tonnes), more than tenfold. Viet Nam (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from Australia stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+X% per year) and Viet Nam (X% per year).

In value terms, Australia ($X) constituted the largest supplier of almond to the U.S., comprising X% of total imports. The second position in the ranking was occupied by Spain ($X), with a X% share of total imports. It was followed by Viet Nam, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value from Australia amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+X% per year) and Viet Nam (X% per year).

Import Prices by Country

The average almond import price stood at $X per tonne in 2020, jumping by X% against the previous year. in general, the import price enjoyed a resilient increase. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per tonne in 2015; however, from 2016 to 2020, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. in 2020, the countries with the highest prices were Australia ($X per tonne) and Viet Nam ($X per tonne), while the price for China ($X per tonne) and Spain ($X per tonne) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform