Almonds are California's leading agricultural export, with exports in 2022 totaling $4.5 billion. With over 7,000 almond growers and processors in California, the idea of increased export opportunities to Europe and Asia is exciting news for the industry.
For these family operations in California, overseas markets have become a critical component to their success and bottom line. An astounding two-thirds of California’s almonds are exported. So no matter how you crack it, almond exports are a crucial portion of revenue for California producers, “and keeping strong and diverse market opportunities is essential to long-term profitability,” said Adams. Especially, “in the Central Valley, where many communities have been suffering the economic effects of increasing crop input costs and lower returns.”
This is where USDA’s Foreign Agricultural Service (FAS) comes into play for almond exporters and the Almond Board of California. FAS – with its network of offices and attachés around the world – helps open and expand markets for U.S. agricultural exports. For example, just recently FAS identified fresh market opportunities in Italy and Bulgaria. Through its close partnerships with U.S. cooperators, including the Almond Board of California, and foreign buyers, California almond exports to Italy and Bulgaria in 2024 are expected to grow by millions of dollars.
India is another almond market with exciting growth opportunities. Last year, India removed retaliatory tariffs on U.S. almonds and other products. The impact of removing that trade barrier is already being seen in the export market, and the value of U.S. almond exports to India is expected to reach $1 billion in 2024.
“India is our number one export market,” noted Adams. “It has grown significantly because of our long-term commitment, promotions, and ongoing relationships with customers and consumers. Almonds are unique, in that they are an integral part of India’s history and culture – we’ve leveraged that tradition in our marketing efforts and supported it through investing in nutrition research in India.”
These opportunities for market growth are some of the bright spots that FAS has identified for 2024 as the agency works to advance USDA’s goals for diversifying and enhancing international markets for American farmers, ranchers, agribusinesses, and exporters.
