Almond sales surpass crop intake.
Demand for Australian almonds in one of the most challenging seasons on record has exceeded expectations.
The Almond Board of Australia’s final monthly Sales Position Report of the 2023-24 season has posted an end of season all time sales record for the industry.
Despite producing a 103,381 tonne crop, 34% down on pre-harvest estimates, Australian marketers managed to sell in excess of 131,000 tonnes to surpass the previous season’s record level of 129,500. The previous record was achieved against an intake of just over 140,000 tonnes.
The annual figures suggest unsold stock from previous seasons has been cleared out, with key manufacturing markets like Turkiye and Spain as well as the Californian recyclers of low grade material having posted huge volume increases.
Spain is up 23% with 10,609 tonnes, Turkiye up 83% with 11,104 tonnes and the US up 33% at almost 4000 tonnes.
Other features of the season include a downturn in China, which exceeded 50,000 tonnes last year.
For the first time since the Free Trade Agreement with China in 2017, almond sales declined, largely due to reduced availability of high grade inshell in a wet season. Ironically, the other main inshell market in the world, India, was up 114% driven by the introduction of a 50% reduction in tariffs for kernel and inshell.
The 2024 harvest is almost completed and it is expected that yields will return to long term forecasts and meet demand in a range of key markets.
A largely dry harvest has resulted in improved quality of inshell, which is likely to increase interest from China and India.