A Nutty Problem: Part 2

After my last post, I was still wondering about why prices of almonds have risen so much over the last 5 years. Much surfing later reveals that demand for nuts have increased dramatically.

California exports about 70% of its crop, so there does not appear to be a domestic shortage of almonds. What appears more likely is an increase in demand. Especially so, given the increased awareness about the health benefits of nuts. Walnut prices have also risen dramatically. Both nuts are known to have significant concentrations of Omega-3 oils.

I could not find any mention of tariffs on foreign almonds. So, higher demand seems to be driving the price increase.