Asia’s love of nuts is draining California dry.
Amid one of the worst droughts in the state’s history, farmers are scrambling to find enough water to irrigate lucrative almond trees they planted after abandoning other, less thirsty crops.
Why’s there such a market for California nuts? As incomes in countries such as China, South Korea, and India have risen, so has demand for nuts that formerly were out of reach for many Asians. Added to the mix are Wall Street firms who, smelling a quick buck, are paying top dollar for vegetable farms and converting them to orchards.