W20: Macadamia Update

In W20 in the macadamia landscape, it was reported that the CEO of the World Macadamia Organization (WMO), reassured macadamia farmers that despite falling prices and oversupply, there are still opportunities and markets to explore. The WMO formed less than two years ago, aims to drive awareness and consumption of macadamias and is working on market development collectively. The macadamia industry plans to double its supply by 2025, and while this brings short-term instability, it presents long-term opportunities. The WMO is running campaigns targeting consumer and business audiences, with a focus on the United States, China, and India. They have also created the WMO Macadamia Product Standard, which ensures consistency across countries and facilitates easier business transactions. Lastly, the global Macadamia nuts market was impacted by the COVID-19 pandemic, with an estimated market size of USD 1219.5M in 2022 and expects to reach USD 1422.5M by 2028, growing at a CAGR of 2.6% during 2022-2028.