Almond sales expected to slow.
Australian almond sales continue at a record pace, up 18% after the first six months of the selling season to the end of August.
The ABA’s August Position Report confirms that almost 75,000 tonnes (kwe) has been shipped to 40 countries around the world since March.
The new trade agreement has continued to influence buying interest from India, which was up again in August to be 101% up in volume on the previous season.
While volume sold has continued at record pace, grower returns remain low as the global market pricing remains soft to flat at best. The lower exchange rate with the US dollar has been one of the few bright spots for growers.
Exports continue to be the key driver of volumes, up 24%, while the domestic market remains sluggish and down 6% on the same time last year.
It is expected the sales for the back of half the season will slow significantly based the reduced crop and availability of preferred varieties and sizes. The Almond Board of Australia’s actual volume for 2023 has been confirmed at 103,381 tonnes which is a further 5% down on the mid-year figure of 108,950 tonnes.
The actual number is 34% down on the original pre-season estimate in January of 156,200 tonnes.
The industry is expected to have an extremely low carry-out this season with demand inevitably outstripping supply before season’s end.
ABA CEO Tim Jackson said today that the 2023 season will go down as one of the most challenging for growers in recent memory. He said following a strong pollination season in August, the industry has pinned its hopes on a significant bounce back in crop size in 2024 to ensure marketers can continue to take advantage of the global demand for the Australian almonds.