The Almond Board of Australia (ABA) has released its latest sales report – revealing that the monthly figures for July were the largest since marketing data has been recorded.
The ABA’s July Position Report showed that exports were up 35 per cent on the same month last year, and 19 per cent ahead after five months of the selling season. The 22,450 tonnes (kwe) sold was 28 per cent higher than the previous all-time high water market for sales volumes, in July 2017.
After five months, export sales volumes were 60,803 tonnes (kwe) and total sales were just shy of 71,000. A dry season and high demand in China is driving volumes at a rate that exceeds the industry’s annual sales volumes of 10 years ago.
China inshell sales have driven the growth. More than 27,000 tonnes of inshell have been shipped so far this season compared with just over 12,000 for the same period last season. Overall, China exports are up 105 per cent and represent more than 55 per cent of all exports due to the free trade agreement providing favourable pricing.
Agribusiness financial services provider, RaboBank, also released its Australian Tree Nut Outlook report in August, which recorded evidence of a period of growth for Australia’s tree nut industry, backing up the ABA data. This trend is expected to continue, with the report expecting significant almond orchards maturation over the next few years to provide opportunities to meet growing international demand – particularly in China and India.
The ABA report also showed domestic sales volumes strengthening, up 22 per cent from July 2023 and up 1 per cent over the season. It is a promising trend, given the steady decline of domestic sales over the previous 18 months.
The ABA formalised a 2024-25 crop update alongside the sales report, with the pre-season estimate of 164,700 tonnes being revised down to 153,550 tonnes as hulling and shelling comes to an end.
ABA CEO, Tim Jackson, said lower yielding older trees appear to have been the major factor in this adjustment, but improved global pricing would nevertheless boost expected grower returns for the current crop.
“There is a far more positive outlook for growers than last season,” he said.
“Even though yields are down a little on expectation, prices have bounced strongly and the quality being delivered this year appears to have helped marketers pack and process goods quicker and at a higher pack-out than was possible last year.”
The ABA’s position report project is funded by Hort Innovation, using the Almond Industry levy and funds from the Australian Government. The current position report can be viewed here.
Hort Innovation is also leading the development of new almond varieties, through its Frontiers investment program, which is supporting a $41 million tree crop program bringing together growers and plant scientists.
The tree crop program is one of the first projects to be announced through this investment, and will be a five year initiative led by a collaboration between Queensland University of Technology (QUT), Murdoch University, University of Queensland (UQ) and Western Sydney University (WSU).
