Driven by strong demand California almond industry revenues surged to $3.9 billion in 2011/12 from $740 million 10 years ago as production has increased to 2 billion pounds annually. Resulting from these realized profits growers continue to plant more almond trees shifting acreage from row crops to permanent orchards and in turn raising land values. 70% of U.S. production is exported and 80% of the world almonds consumed come from California – dominating the world market. The report goes on to conclude that a collapse of the global almond industry is unlikely to occur as total world consumption is projected to increase to 3.4 billion pounds in 2020 – just below world supply of 3.75 billion pounds, and that in fact, demand could still outstrip supply.