April 23rd, 2020 ACREAGE REPORT

This afternoon the California Almond Acreage Report was published. Here are the highlights:

• 2019 Almond Acreage is estimated at 1,530,000 acres.

• 2019 Bearing Acres 1,180,000.

• 2019 Non-Bearing Acres 350,000.

• 2020 Estimated Bearing Acres 1,260,000.

For the 2019 crop – the preliminary yield per acre is 2,161 lbs., assuming the final crop total is 2.55 billion lbs. For the 2020 crop – with an estimated 1.26 million bearing acres, and an estimated yield of 2,238 lbs. per acre, the 2020 crop should be 2,819,000,000+/- lbs. We are still waiting for the USDA subjective estimate which will be published in early May, the “May Drop” & the USDA objective estimate in early July. Rainfall & snowpack this year has been marginal at best, and we will have to see how weather patterns evolve over the next three months. Wishing everyone health & safety during these difficult times.