
The California Almond Position Report shows October almond shipments roughly unchanged year-on-year overall. Shipments to India rose about 85% to 52.3 million lbs, and Pakistan imported 11.8 million lbs versus 2.0 million a year earlier.
Other key markets were noticeably slower.
Almond demand is concentrated in India and Pakistan, so weaker buying elsewhere leaves the market exposed if those two buyers slow after aggressive early-season purchasing. Almond hulls are a feed by-product, but the effect on feed commodity prices is limited.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.