Australian Almond Position Report – May 2024

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Almond sales on record pace

Australian almond sales for the 2024 season remain on record pace after setting another monthly record for exports.

Three months into the new season, the industry has surpassed 31,000 tonnes of sales with export driving momentum by being up 4% on last year.

Improved quality has resulted in China demand increasing by 89% on last year and New Zealand, Thailand and India are all performing strongly.

Sales volumes for May were the best seen, up 300 tonnes on last year’s record.

Grower returns have been improved by a relatively low exchange rate with the US dollar and international pricing improving on last season. Inshell has played a significant factor in grower returns. Pricing remains favourable to kernel sales and with increased availability due to dry harvest conditions, volumes shipped are up 61% on the first three months of the 2023 season.

All eyes are now on the Californian almond industry’s annual Objective Estimate this week as it will impact market sentiment one way or another.

Click here for the current position report.

Click here for the previous position report.