FROM THE EXECUTIVE
From the Executive ...
“
There is little doubt that processors and marketers will be hoping to maximise inshell production to enhance their returns .
Peter Hayes , ABA Chairperson and Tim Jackson , ABA CEO
Interest in inshell as prices at a premium
4
THE 2024 harvest has started in near perfect conditions across all growing regions . Growers have been able to make significant inroads into their nonpareil crops and other early season varieties with largely dry weather prevailing . The anecdotal feedback from across the regions is that kernel sizing is down on last year and the product is very dry . Moisture readings below four per cent are commonplace . The demand for Australian nonpareil inshell in China , India and Turkiye appears strong based on the reception stakeholders received during recent trade events in Delhi and Dubai . There is little doubt that processors and marketers will be hoping to maximise inshell production to enhance their returns . There is anywhere between a 20-30 US cent per pound ( AUD0.70c to $ 1 per kilogram ) premium for inshell in the market at the moment . If you add higher returns for inshell that yields over 73 % kernel ( an Indian common trait for Australian inshell ) then there is little wonder that the industry will almost certainly produce more inshell than ever before . The good news is that high quality pollinators have also recovered so kernel pricing is looking much improved on six months ago . Low grade material remains weak as volumes continue to grow on the
In A Nutshell - Autumn 2024 Vol 25 Issue 1
back of higher than average insect damage rates being encountered in California .
India and Turkiye
The demand for Australian almonds in India and Turkiye is at its strongest for many years . The 50 % tariff reduction under the AI- ECTA agreement represents a saving on the first 34,000 tonnes sold into India this year . Punitive tariffs on Californian almonds into Turkiye has resulted in many buyers turning their attention to Australia . More almonds were sold to Turkiye last year than ever before and this was due to large volumes of low grade manufacturing grades being taken up by independent processors and manufacturers . It remains unclear if this trend is sustainable in 2024 , given that most old Australian inventory will be cleared and industry wide quality looks to have improved . The ABA ’ s marketing team will be focusing on strengthening our market niche within India in the hope that the latest round of trade talks increases the volume permitted at the reduced tariff rate . The ABA has recommended zero tariff for all stock , but will settle for 70,000 tonnes per year . In the first year of the new agreement in 2023 Australia