Australian almond exports down more than 30 per cent

Australia’s almond exports are down significantly this year. And so were prices. Here’s what we know.

Dropping numbers: Almonds grow on a tree in California. The US’s almond crop is tipped to be 3 billion MT this year. Picture: Justin Sullivan

AUSTRALIAN almond exports are down significantly this year following disruptions at export destinations due to COVID-19 lockdowns and predictions of a record smashing US almond crop that has led global nut prices to dive.

Almond shipments were down almost 32 per cent for the marketing year between March 1 and August 31 compared to the same period last year, according to the Almond Board of Australia’s latest export report.

The shortfall has mostly been attributed to issues with market access caused by the coronavirus. But ABA chief executive Ross Skinner said forecasts of a record almond crop in California this year, which produces about 80 per cent of the world’s almonds – from 1.15 million tonnes to 1.36 million tonnes – has led prices to plummet globally.

Mr Skinner said most of Australia’s almond crop had now been sold, so it was simply a matter of shipping it to its final overseas destination.

“We had some challenges with port closures in India during the COVID lockdown but we’re expecting shipments to increase over what they were last year from now on,” he said.

Much of the Australian crop was sold midway through the marketing season when global prices were at their lowest, however some marketers held on to their crop hoping that prices would rebound later in the year. Mr Skinner said prices did improve, but were lower than last year’s.

Rural Bank’s Andrew Smith said the value of almond exports was down 50 per cent this year to August 30 by about $230 million.

Australia’s largest publicly owned almond producer, Select Harvests, sold its 2020 almond crop for between $7.25/kg to $7.75/kg, compared to $8.60/kg last year.

MORE

VALUE OF AUSSIE AG EXPORTS BY STATE

MEET 10 OF OUR TOP ENVIRO CHAMPS

AUSTRALIA’S PROMISING NEXT GENERATION OF FARMERS