January 20, 2015

As drought conditions continue to threaten production in California, the world’s biggest almond producing region, Australia’s almond industry is expected to see record breaking output as the country’s harvest begins in late February. The 2015 crop is forecast to be between 75,000 and 80,000 tons, surpassing the 73,000 ton harvest of 2013. At the same time, growers can expect high prices for their nuts. Almond prices climbed from $5 per kilogram in 2011 to over $8.50 per kilogram in 2014 resulting in orchard values increasing from $25,000 per hectare to $47,000 per hectare over the same time period. This record harvest is being attributed to previously planted trees coming into maturity rather than a higher yield per hectare, and his increase in output is only expected to continue as there is a 10% increase in plantings planned for each year for the next two to three years. As the health benefits of almonds becomes more well-known in emerging markets, demand continues to strengthen. Approximately 75% of Australia’s 2014 crop was exported, with India taking shipments worth $100 million.

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