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Australia's almond production fell by 30%, stocks were cleared, and exports to China fell sharply

Published May 15, 2024

Tridge summary

The Australian Almond Commission has announced a record-breaking sales season for the 2023/24 production period, despite a significant drop in output. The industry saw a 34% decrease in production, resulting in only 103,381 tons, which is less than the initial estimate. However, marketers managed to sell over 131,000 tons of almonds, surpassing the previous record of 129,500 tons. This success is attributed to increased demand in major processing markets like Spain and Turkey, as well as in the United States and California. However, there has been a notable 34% decrease in Chinese imports, the first decline since the Australia-China free trade agreement in 2017, due to excess rainfall. In contrast, Australian almond exports to India have surged by 114% due to a 50% reduction in tariffs. With the completion of the 2024 harvest, almond production is expected to recover and reach the forecasted levels, potentially improving the quality of shell nuts due to the dry climate, which could peak the interest of Chinese and Indian buyers.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Australian Almond Commission announced that the industry has experienced one of the most challenging production seasons on record, but global market demand for Australian almonds has exceeded expectations. According to the association's last monthly sales status report for the 2023/24 production season (March 2023-February 2024), the Australian almond industry set a new sales record at the end of this season. Although the output was only 103,381 tons, 34% lower than the pre-harvest estimate, Australian marketers successfully sold more than 131,000 tons (KWE based on kernel weight) of almonds, exceeding the record of 129,500 tons set in the previous season. The record in the previous season was achieved with a harvest volume of slightly more than 140,000 tons. Annual data shows that unsold inventory from previous seasons has been cleared, and sales have increased significantly in major processing markets such as Turkey and Spain, as well as low-grade raw material recyclers in ...
Source: Guojiguoshu
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