Australian almonds: Season rallies after disappointing 2023 crop

From a disappointing 2023 harvest to high-quality yields, Australian almond growers face a more upbeat outlook in 2024.

Australia’s almond industry has turned 180 degrees in sentiment and sales compared to the same time last year, with exports into major trading nations India and China soaring.

It comes off the back of favourable dry conditions at harvest and a low Australian dollar, which are working to remedy ongoing input pressure costs for producers.

The latest Almond Board report shows sales into China lifted to 4303 tonnes compared to 1822 last year, while India is up to 6823 tonnes compared to 3245 tonnes in the same period last year.

The report also showed Australian almond exports lifted 11 per cent compared to same time last year.

Almond Board of Australia chief executive Tim Jackson said a bigger crop and quality produce had set the season off with a bang.

“Last year, our tonnage was down 34 per cent … because it was such a bad weather year and the crop was down,” Mr Jackson said.

Mr Jackson said China and India represent Australia’s largest export markets and the two nations account for 90 per cent of the global world almond exports between them.

Free trade agreements have made for a favourable export option for Australian producers, Mr Jackson said.

“The FTA has taken China from being a small part of our program, to supplying China with half our needs,” Mr Jackson said.

The Australian dollar sitting at about 66 cents to the US dollar is “great for almonds,” Mr Jackson said, which has lifted sentiment across industry.

Australian almond growers are feeling markedly more positive heading into the 2024 season, off the back of favourable conditions and strong export demand from India and China. Picture: Peter Hemphill

“ … and grower returns are edging back towards long-term averages.”

Merbein almond grower Neale Bennett said dry conditions during harvest this year resulted in a quality crop.

“It’s closer to an average harvest than the last few years,” Mr Bennett said.

Mr Bennett, whose family has farmed at his property for four generations, estimated his crop in 2023 was down 10 to 15 per cent compared to the year prior, and that a combination of increased fuel, labour, and chemical costs had added pressure for growers.

“Then, you get hit with a lower than expected crop, and that drags your confidence down,” Mr Bennett said.

“We are lucky at this stage that the dollar is down and it’s giving us a better return than the Californians would be getting.”