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Almond Presentation January 2013 Presented by - Bill Morecraft General Manager

Almond Presentation January 2013 Presented by - Bill Morecraft General Manager Blue Diamond Almonds Global Ingredients Division. Almond Overview. Growth Drivers and Historical Context Current Year Overview Looking Ahead. The Global Middle Class.

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Almond Presentation January 2013 Presented by - Bill Morecraft General Manager

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  1. Almond Presentation January 2013 Presented by - Bill Morecraft General Manager Blue Diamond Almonds Global Ingredients Division

  2. Almond Overview • Growth Drivers and Historical Context • Current Year Overview • Looking Ahead

  3. The Global Middle Class

  4. The Global Middle Class is Evolving • The middle class is not easily defined • “Purchasing Power Parity” (PPP) • Developing Economies = US $10,000 • Established Economies = US $45,000 - $75,000 • We have seen very diverse results in middle class growth when looking at developing economies versus economies with an established middle class • Two trends haven driven almond industry growth in recent years • Growing Middle Class • Growth in Healthy Eating Habits Source: Euromonitor, “The Global Middle Class Sees Mixed Fortunes, October - 2012

  5. Rapidly Growing Middle Class in World’s Two Largest Countries 99% Growth Number of Households (millions) 63% Growth 2006 2011 2006 2011

  6. Almond Shipments to China Have Grown Nearly 1000% Millions Pounds

  7. Almond Shipments to India Have Grown 145% Millions Pounds

  8. Percent of Households With PPP of US $45,000 to US $75,000 2006 v 2011 2006 v 2011 2006 v 2011

  9. Evolving Eating Habits • Snacking Fills the Mealtime Gaps • Convenience / portability • Ability to eat on-the-go • Increase in healthy • offerings, e.g. 100 calorie • pack • BusierLifestyles • Shorter lunch breaks / • working during lunch • Longer working hours • Longer commutes • Healthy Lifestyles • Desire to combine health & • convenience • Lower sodium, less fat, natural ingredients, functional ingredients • Helps fuel demand for Western products in emerging markets • Working Women • More women in workforce • and less time cooking • Demand for convenience • Healthy solutions Source: Euromonitor, “Home Cooking & Eating Habits, A Global Analysis. April - 2012

  10. AlmondIndustry Shipments5-year History 78% Growth Between 2007-12 Millions / lbs. 14% 13% 6% 10% 18%

  11. Export Demand Comparisons Asia Growth 2007-2012 154% Millions / lbs. Source: Almond Board of California Position Reports. Asia does not include Australia or New Zealand. Middle East does not include Africa. Europe is inclusive of Western & Eastern Europe.

  12. Demand Share Comparisons

  13. CurrentCrop Year Overview

  14. YTD December- Total Industry Shipments -.9% YTD China +10% 267.7mm North America +5% 255.2m 155.8mm 141.5m

  15. 2012 California Almond Crop Pounds / Billions

  16. Short Term Outlook Growth in Shipments vs. 2012 Supply Increase

  17. Yield Trend

  18. Trended Crop Projections

  19. Key Factors for Future • Global demand can continue to grow, driven by: • Middle class growth in emerging economies • Changing eating habits in mature economies • Global almond production will grow slower in next 2-3 years, than in past decade • Almond pricing will reflect supply tightness for the near future

  20. Questions?

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