Australian Almond Position Report – October 2023

Market update (2)

October almond sales position report.

Demand in Australian almonds has continued in October with a fourth record sales month for the 2023-24 season.

Data aggregated by the Almond Board of Australia shows that combined domestic and export sales season to date was up 9.47% on last year’s record high despite the crop being down by more than one third.

The ongoing growth was fuelled by the best October for exports in history and improved domestic sales, up 4% season to date.

Overall sales for the eight months of the new season from March to October now tally 102,767 tonnes. For the first time in many years, Australian almond sales for the season – with four months to go – will exceed the actual intake tonnage for the same season (ie: 103,381 tonnes) and leave the industry with a very low carry-out.

Indian sales are up 129% on last year with kernel sales up from 127 tonnes last season to 4388 tonnes. Turkiye, Spain and the Middle East are up significantly while China sales are down 28% but still represent 35% of total exports. Exports across 41 countries are up 11% on the same time last year. Pricing has improved marginally since last month with Stratamarkets reporting an almond index price across inshell and kernel of US2.10/lb. While this is an improvement from the 1.80s quoted in September, the strengthening Australian dollar has taken some of the gloss off the potential returns after the exchange rate is taken into account.

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