Macadamia Prices in Australia Retreats as Harvest Starts in the Southern Hemisphere

Macadamia prices in Australia decreased by 4% MoM to USD 30.05/kg (kernel basis) due to the ongoing harvest season that began in February and is expected to continue for the next six months. Early estimates indicate a bumper crop, but the variable weather conditions create uncertainty about the actual crop size. Competition from South Africa, which expects another record crop, is further weighing down on prices.