Australian macadamia nut prices fell to the lowest in more than 10 years, and China’s imports hit a new high

Published Jan 15, 2024

Tridge summary

The Australian Macadamia Nut Association's 2023 Annual Report indicates that farm prices for macadamia nuts have fallen significantly due to increased global supply and intensified price competition in the export market. The industry achieved farm-gate sales of A$104 million in 2023, a significant decrease from A$334 million in 2020, with 75% of macadamia nuts being exported with an export value of US$300 million. While the industry experienced challenges, there was an overall increase in sales during the 2022/23 export season, primarily driven by strong kernel exports to South Korea and the United States, and a sharp improvement in exports to other Asian countries and Australia.

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

Original content

The "2023 Australian Macadamia Nut Annual Report" released by the Australian Macadamia Nut Association shows that due to increased global supply and intensified price competition in the export market, Australian macadamia nut farm prices have fallen to the lowest level in more than a decade in the 2022/23 season. China has It has become the second largest producer of macadamia nuts in the world after South Africa, but its imports continue to grow at a rapid rate and hit a new high. Among them, the import of nut kernels increased by 40% year-on-year. The macadamia nut cultivation area in Australia exceeds 40,000 hectares, with approximately 800 growers, and the shell nut production in the 2022/23 season (March 2022 to February 2023) is 48,400 tons (moisture content 3.5%). Australian Macadamia Nut Industry Achieved farm-gate sales of A$104 million in 2023, continuing a downward trend that began in 2020 with a high of A$334 million. 75% of macadamia nuts were exported in 2023, with ...

Source: Guojiguoshu