California almond growers experienced yet another taxing and financially draining season over the past 12 months. Before growers could recover from the aftershock of last year’s hardships, a wave of new difficulties overcame the industry in 2023.
However, this year’s 51st Annual Almond Conference lifted spirits for some, as it provided an opportunity for comradery, collaboration on resources, and insight into the factors that the industry can control.
“For the short-term outlook, things will remain difficult and tough decisions will have to be made,” said Alexi Rodriguez, chair of the Board of Directors at the State of the Industry Presentation. “But...we do believe there's good reason to remain optimistic about the future of almonds and their profitability.”
Production and Consumption Stay Favorable
A lot has changed in terms of growth, production, and additional plantings, and it’s important to assess how almonds measure up against other tree nuts, said Richard Waycott, former Almond Board of California (ABC) president and CEO.
Today, 3.5 billion pounds of almonds are being produced globally – approximately 1 billion more than 10 years ago. Production remains high in California, making up about 75% of all world production, but this number has been higher, which suggests increasing competition from producers in Spain and Australia.
Almonds aren’t the only nut that has seen this amount of scale. Collectively, tree nuts have increased total trade net supply in the world by 64% in the last decade. Positively, almonds are still the favorite nut and hold a hefty consumption lead over their nearest competitor, cashews, but there is still lots of room for more consumption globally, Waycott noted.