Almond.docx - 1 SUPPLY AND DEMAND CONDITIONS FOR ALMONDS IN USA Name Course Date 2 Cost and Supply Condition’s for Almond in USA vs the World Market

Almond.docx - 1 SUPPLY AND DEMAND CONDITIONS FOR ALMONDS IN...

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1 SUPPLY AND DEMAND CONDITIONS FOR ALMONDS IN USA Name Course Date
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2 Cost and Supply Condition’s for Almond in USA vs the World Market The growth and demand for almond ingredients have risen a lot since the year 1970, with the demand for almond milk being the most valued profit earner for almond ingredients. Almond’s ingredients market value was valued at USD 8.1 billion in the year 2018 with an expected rise being valued to reach USD 16.4 billion by the year 2025. The growth of almond products around the world and the USA are due to the growing demand in the snack food industry, whereby almond is being characterized for its health-based ingredients. The products have some benefits to its consumers like being high in protein, it contains monosaturated fats that are healthy and in plenty and it is a very good source for minerals and vitamins (Dolan 2019). The US is the biggest exporter and producer of almonds around the world with California producing almost 80 percent of the world’s almonds. Production of almonds in America has risen from 250,000 tons of shelled almonds being produced to 300,000 tons in the past 30 years. During the year 1969 almond production was small scale with an area of about 61.794 hectares being used for cultivation. The growth, however, increased to almost triple that size around the middle and southern Joaquin valley due to the new irrigation system that was brought. The counties that mostly grow almond are “Kern, Merced, Fresno, Madera, Stanislaus, and San Joaquin in the San Joaquin Valley and Butte and Colusa countries in the Sacramento Valley” with the most grown almond variety being Nonpareil. Currently, there are over thirty varieties of almond trees being grown in California, however other varieties are also being considered for export such as the Carmel, and Butte ().
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