Australia's almond industry cracks $1.3 billion mark as Chinese demand rises
The value of Australia's almond industry is soaring. (ABC Landline)
In short:
Australia's almond industry produced a record $1.3 billion worth of nuts last financial year.
Prices are rising due to surging demand from China.
What's next?
Australia is forecast to harvest a record almond crop this year, but picking has been delayed in many areas because of rain.
Australia produced a record $1.3 billion worth of almonds last financial year as exports to China increased nearly 130 per cent.
The amount of almonds produced by Aussie farmers actually fell 5 per cent, but the crop's value increased by an incredible 20 per cent.
Australian Almond Board chief executive Tim Jackson said growers were getting their best returns in a decade.
"It's been a perfect storm for Australian almonds," he said.
"We've had a low exchange rate, but also trade agreements with China and India has seen demand for almonds go through the roof, and growers have been able to extract a premium."
The value of Australian almonds is rising. (ABC Landline)
Data released this week by Hort Innovation shows almond exports to China increased from 33,373 tonnes to 76,132 tonnes in the 2024-25 financial year.
India was the second-largest customer, taking 19,803 tonnes, which was similar to the previous year.
Loading...China dominates
Mr Jackson said China was consuming Australian almonds "in every which way you can think".
"Value-added [almond] milk, snacking, processing, it's such a diverse market," he said.
"And the fact we can land them there with zero tariff, compared to the 50 per cent tariff that Californian almonds [are taxed], means we've got more and more Chinese buyers trying to source Australian almonds."
Demand for almond milk is taking off in China. (ABC News: Matt Roberts)
He said China was easily the industry's largest customer.
"China is currently 61 per cent of total exports, which is getting into territory that is concerning," he said.
"But given we've come out of some of the lowest prices and returns in recent history, you can't blame growers for pushing more almonds into China, where there's a premium and such strong demand."
China is buying more than 60 per cent of Australia's total almond exports. (ABC News: Brett Worthington)
Record harvest underway, sort of
Australia is forecast to harvest a record almond crop this year of 167,000 tonnes.
The harvest has started in some areas, but there are plenty of growers, including Jim Belehris from Cooltong in South Australia, who have been delayed by rain.
"I was due to start harvesting this morning but the timing [of this rain] could not have been worse," he told the SA Country Hour.
"The almonds will dry up in the tree, so we'll look at the weather later and go from there.
"We just need a small window of dry weather and we'll get into it."
Australia is on track for a record almond harvest this year. (ABC News: Brett Worthington)
Mr Jackson said rain could cause a range of issues for almonds such as mould, but it felt wrong to complain about wet weather.
"We're torn between two things, because the price of water is at a high level at the moment and we need [dam] storages filled," he said.
"But the timing of the rain has got everyone shaking their heads."
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