Tejon Ranch Sees This Year's Almond Crop at 2.6B Pounds

By Adam L. Cataldo

Tejon Ranch, a real estate development and agribusiness company, expects farming operations to still be affected by higher costs for various items, including fuel and fertilizer.

On water demand:

"Water sales opportunities each year are impacted by the total precipitation and snowpack runoff in Northern California from winter storms, as well as California State Water Project, or SWP, allocations," the company said. "The current SWP allocation is at 100% of contract amounts, so the company anticipates that demand for its water over the remainder of the year will be lower than in previous years when the SWP allocation was significantly less."

On farming costs for 2023:

The company said operations will continue to be affected by higher production costs for fuel, fertilizer, pest control and labor costs.

On almond production:

"Higher than historically normal almond inventory levels are anticipated to have an adverse effect on selling prices for the remainder of 2023," the company said. "The current subjective estimate for the 2023 almond crop is 2.6 billion pounds, which is consistent with 2022."

Write to Adam Cataldo at [email protected].

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