Australia: All signs looking good for almond season

Published 2024년 3월 3일

Tridge summary

Australia's almond industry is predicted to see a significant rebound, with the 2024 crop expected to reach 164,000 metric tons, marking a 59% increase from the previous year, as per Rabobank's Five-year almond market outlook report. The surge is attributed to improving export prices. Despite a drop in exports to China due to economic slowdown, the reduction of tariffs on Australian almonds to India has resulted in a 140% increase in trade. Rabobank also forecasts a strong rebound in global almond prices in the next 12 to 18 months, even as global production returns to higher levels.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

IMPROVING export prices are helping map out brighter days ahead for the almond industry, according to a new report. Rabobank's Five-year almond market outlook: Significant rebound underway report suggests the industry is on track to enjoy much better year in 2024. It lists the main drivers for this upturn as: The latest industry forecasts for the season are expecting Australia's 2024 almond crop to reach 164,000 metric tons kernel weight equivalent (KWE), 59 per cent higher than the official intake for last year's harvest, the report said. Report co-author Rabobank associate analyst Pia Piggott said the current almond harvest was indicating a strong recovery on the horizon, after a challenging production year in 2023. Ms Piggott said the improved harvest prospect will help fuel Australia's almond exports, which on average account for 80 per cent of Australian production. Ms Piggott said, for Australian almond producers, 2023 had been another year of export growth. "Shipments in ...

Source: Farmweekly