The first month’s shipping results for the 2023-24 Australian almond season are up by 60% from March 2022. Sales for March 2023 were 8323 Tonnes (kernel weight equivalent) compared to 5207 Tonnes last year. Exports are up 123% on the same period last year, totaling 6311 Tonnes. The growth is underpinned by large shipments to Spain, China and Turkiye and the rest of the Middle East. Almond Board of Australia CEO Tim Jackson said today that the unprecedented March numbers for Spain and Turkiye suggested that some marketers and processors took the chance to capitalise on improved pricing to move lower grade material from 2022 into these two key manufacturing markets.
China was up 27% on last year, representing almost 25% of total exports with the bulk of new season nonpareil inshell being directed into this market due to the free trade agreement fetching a pricing premium. Indian sales also bounced back from last year’s non-existent start in both inshell and kernel due to the renewed appetite for Australian product following the introduction of the 50% tariff reduction on both products that was put in place through the AI-ECTA late last year. Domestic sales remain slow, down 15% on March last year. Mr Jackson said challenging weather conditions during harvest and a lower than expected yields across the industry would heighten demand for Australia’s kernel and inshell products and pricing had started to firm on the world market.
The ABA will continue to focus on maintaining and growing market share in key markets while also laying the groundwork for improve consumption in nearby markets that have an emerging number of health-conscious middle class consumers. This month the ABA’s marketing program will include representation at the China Sial trade show in Shanghai, the annual Thaifex conference in Bangkok as well as the World Nut Congress in London. It will be the first time since the pandemic that ABA marketers have travelled to China.
For the March 2023 Australian Almonds Position Report, click here.