W37: Macadamia Update

In W37 in the macadamia landscape, the global macadamia market was valued at USD 1.58 billion in 2022 and is projected to reach USD 4.3 billion by 2032, with an expected compound annual growth rate (CAGR) of 9.9%.

The Australian Macadamia Society has announced that the 2023 Australian macadamia crop forecast has decreased from 53.16 thousand tons in-shell to 48.50 thousand tons in-shell due to lower-than-expected yields and low farm-gate prices. Macadamia growers were significantly affected due to challenging conditions and low farm-gate prices. Many growers are reevaluating their on-farm expenses and making difficult choices regarding harvesting and orchard management practices. These unusual factors in the current harvest season have made crop modeling and forecasting more challenging than usual. Additionally, there is an expected increase in the amount of crop exported as nut-in-shell, potentially doubling to 60%, impacting kernel availability.

Lastly, the Australian Macadamia Society has announced that the forecast for Macadamia farmers in Kenya are poised to benefit from improved returns as the government temporarily lifts the ban on exporting in-shell nuts. The ban, which had caused challenges for nine licensed macadamia processing companies since March due to the lack of international markets, has been suspended by the Agriculture Cabinet Secretary for three months. This move aims to address the price crisis faced by farmers and allows macadamia processors to explore alternative markets.

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