Unprecedented almond sales recorded
Australian almonds exports continue to be cleared at a record rate amid an ongoing strengthening of global pricing.
The industry’s Australian marketers and processors have shipped more product in nine months than they have in any previous full 12-month season. Pricing continues to firm and returns to Australian growers look to be further enhanced by the low exchange rate with the US dollar.
Sales volumes over the last nine months for Australian product in key markets have scaled new levels, with China leading the way.
Volumes into China are up 123% on the same time last year, while industry attempts to broaden the almond consumption in South-East Asia appears to be gaining traction with volume jumps in Indonesia, Malaysia, Thailand and Singapore.
The Australia-China free trade agreement continues to drive demand and has resulted in Aussie almonds gaining a majority of market share. Based on shipping data and 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.
ABA CEO Tim Jackson said that China had evolved as a destination of choice for the industry and the uncertainty around a potential trade war between the US and China in 2025 appears to have further fueled this demand among buyers.
Mr Jackson said India had imported the same amount of Australian almonds as last year for nine months and combined with China, the two prime markets now represented just over 70% of all almond exports.
He said that 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 tonne.
Three months of reporting remains in the current season which goes to the end of February.
The Australian industry will announce its 2025 crop estimate later this week.
Please note: These figures are compiled using ABA and Australian Bureau of Statistic figures available at the time.