Macadamia Prices in Australia Start 2023 on the Front Foot

Macadamia prices in Australia started the year on the front foot, increasing 3% in the first two weeks of 2023, to USD 31.30/kg. This is a similar trend to many other nuts, which also saw a price increase early in 2023. The increase is attributed to strong demand early in the year, but it remains to be seen if this is a long-term increase or a temporary surge as buyers plan their inventory for the year. Throughout 2022, demand for macadamias was not as severely impacted by rising living costs as that of many other nuts and is expanding domestically in Australia and globally. However, global production is increasing at a faster pace keeping a lid on prices.