Tariff reductions to fuel further export development as US almond industry looks to diversify
The US almond industry has identified several new and existing markets ripe for growth as it looks to diversify exports.
The industry, led by peak body Almond Board of California, has been working with the USDA’s Foreign Agricultural Service (FAS) to open and expand markets for export.
“Recently FAS identified fresh market opportunities in Italy and Bulgaria. Through its close partnerships with US co-operators, 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,” a USDA press release said.
India is another market the industry has identified for growth. It is already the top export market for US almonds and last year it removed retaliatory tariffs on US almonds and other products.
Julie Adams, vice president of global technical and regulatory affairs for the Almond Board of California, said the impact of removing that trade barrier is already being seen in the export market, and the value of US almond exports to India is expected to reach US$1bn in 2024.
“India is our number one export market. It has grown significantly because of our long-term commitment, promotions, and ongoing relationships with customers and consumers,” noted Adams.
“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.”