Australia’s almond industry has shipped more product in the last nine months than any previous full 12-month season, according to the Almond Board of Australia (ABA).
The “record rate” has been driven by ongoing strengthening of global pricing as well as the US dollar’s low exchange rate.
While key markets have “scaled to new levels”, China is leading the way, the ABA said.
“Volumes into China are up 123 per cent on the same time last year, and industry attempts to broaden almond consumption in South-East Asia appears to be gaining traction. Indonesia, Malaysia, Thailand and Singapore all recorded volume jumps,” the board said.
The growth in China has been driven by the Australia-China free trade agreement, with Australian almonds now holding a majority of market share.
“Based on shipping data, including Californian almond shipments via Vietnam since the start of the Australian selling season in March 2024, Australia has sold 69,964 tonnes (March to November) compared to the Californian combined China-Vietnam figure (March to December) of 49,752 tonnes,” the ABA said.
ABA CEO, Tim Jackson, said China had evolved as a destination of choice for the industry.
“The uncertainty around a potential trade war between the US and China in 2025 appears to have further fuelled this demand among buyers,” Jackson said.
India has maintained its volume intake at the same level as last year. the two large markets combined account for just over 70 per cent of Australia’s almond exports, he added.
“The nine-month total sales volume for the season of 143,921 tonnes suggests that most processors will have extremely low carry-in inventory for 2025 season given the overall crop estimate for the season sits at 153,500 tonnes,” he said.
The current Australian season runs until the end of February, with 2025 crop estimates due in the next week.
There were three almond company's in our annual Top 100 companies report, Olam Orchards (#69), Almondco Australia (#81), Select Harvests (#87).
