Drought and high temperatures in California drive down almond supplies
Almond production in California is expected to drop 10% to 1.3 million tons this year because of high temperatures and drought. Apart from this, the return of La Niña conditions could bring another weak crop next year. The crop shortfall threatens to drive almond prices sharply higher, with some growers expecting a price jump of 50% or more from last year’s $1.83 per pound.
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