AP STORY: Almond investors

Gosia Wozniacka AP STORIES, Uncategorized

If you spend any time driving through the San Joaquin Valley, the vast stretch of fields and orchards between Sacramento and Bakersfield, you will notice the almond trees. Hundreds of thousands of acres of almond trees, to be exact. An ocean of almond, orchards without end. Soon, in February, the trees will bloom into an immeasurable white coverlet. The Valley is where most of the world’s almonds are produced. Almonds also happen to be the state’s most successful crop for the past several years. These little nuts have beaten California’s iconic grapes to become the no. 2 commodity here. (Dairy is no. 1 in terms of revenues, but the dairy industry has had a dismal year.) Almond farmers are making money, and that’s good news in a region struggling to emerge from the recession. But others now want in on this cash cow crop. Outside investors have been buying up California’s farmland, investing into almonds and other nuts. What does it mean for the Valley? Read my story here: AP-Farmland Investors

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