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CALIFORNIA BUSINESS MINUTE Almond Joy 05-16-08
Hi, I am Tim Johnson and welcome to the California Business Minute.
State Agricultural officials are forecasting another near record breaking almond crop. Last year, almond growers realized a record breaking crop of 1.38 billion pounds. Many officials have identified that this year could be equal to or greater in size. The wind storm in northern California on January 4 caused the loss of thousands of trees in far northern California. And although agriculture suffered from a recent frost, the almond crop saw little if no damage. So even with these two events along with an uneventful blossom, the crop yield still is predicted to be larger. In addition there is 45,000 more acres in bearing acreage this year from last year, so almonds should be plentiful.
California's almond acreage stood at 740,000 acres in 2007 data from the USDAs National Agricultural Statistics Service. That figure included 615,000 bearing acres. Preliminary bearing acreage for 2008 is 660,000 acres.
Blue Diamond the industrys largest processor has identified that they need another big crop to keep up with strong market demand and export sales that are running 16-17 percent ahead of last year's pace. With the weak dollar Californias almonds are attractive around the world. Blue Diamond officials are forecasting that almond consumption is expected to hit 1.225 billion pounds this year.
I am Tim Johnson and this has been the California Business Minute.
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