CA ALMONDS LOOKING FOR GLOBAL ECONOMY UPSWING

Western Farm Press. 27 January 2012.  An uptick expected in worldwide consumer spending as the global financial picture improves will likely open the doors for increased sales of U.S. commodities including California almonds.   In the short term, we’re looking at a recession in Europe and a temporary slowdown in China and India and other emerging global markets due to the global economy.  Over the long term, moderate economic growth in Western Europe. China will grow slightly slower, but its move to a more consumer-driven economy will result in stronger consumer spending growth.

This is good news for Western agriculture. The expansion of California nut acreage and production continues to set records. The California almond industry will likely surpass the 2-billion-pound production plateau, an industry record, this year barring significant weather events.

The U.S. is the top California almond customer followed by China, Spain, Germany, and India, respectively. The U.S. purchased nearly 500 million pounds of almonds in 2010/2011. China imported 168 million pounds.  As the worldwide economy improves,  it is predicted that China and other emerging markets including India, Brazil, Indonesia, and Vietnam will buy more consumer goods. This is due to a large number of citizens earning more income and climbing from the poverty bracket to the middle class.  read more