Global Almond Market Overview
In value terms, almond production amounted to $6B in 2010 estimated in export prices. The total output value increased at an average annual rate of +2.2% over the period from 2007 to 2010; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2008 with an increase of 8.9% year-to-year. In that year, global almond production reached its peak level of $6.1B. From 2009 to 2010, global almond production growth remained at a lower figure.
The country with the largest volume of almond production was the U.S. (744K tonnes), accounting for 40% of total production. Moreover, almond production in the U.S. exceeded the figures recorded by the world's second-largest producer, Spain (223K tonnes), threefold. Iran (121K tonnes) ranked third in terms of total production with a 6.5% share.
In the U.S., almond production expanded at an average annual rate of +5.7% over the period from 2007-2010. The remaining producing countries recorded the following average annual rates of production growth: Spain (+5.8% per year) and Iran (-8.1% per year).
Global average almond yield totaled 1.1 tonne per ha in 2010, going up by 3.3% against the previous year. The yield figure increased at an average annual rate of +2.7% over the period from 2007 to 2010; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2008 with an increase of 6.4% y-o-y. Over the period under review, the average almond yield attained its maximum level in 2010 and is likely to continue its growth in the immediate term. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2010, the total area harvested in terms of almonds production worldwide amounted to 1.7M ha, falling by -2.2% against the previous year. In general, the almond harvested area, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2009 with an increase of 4.9% year-to-year. In that year, the global almond harvested area attained its peak level of 1.8M ha, and then declined slightly in the following year.