Australian Raw Almonds More Competitively Priced Than U.S. Almonds in W39

In the New Zealand market in W39, Australian raw almonds with the same specifications cost 14% less than California almonds. It is driven by the NZD to USD exchange rate dropping by 20% YoY, compared to the NZD to AUS exchange rate, which only dropped by 8% YoY. Additionally, Australia has increased almond production from 120K M.T in 2020/21 to 132K M.T in 2021/22, up 8%, making Australian-origin processed or raw almonds offer better value than U.S. almonds.