FROM THE EXECUTIVE
Mumbai almond buyer Samir Bhanushali offered the ABA his hospitality with a tour of the city .
Bombay Stock Exchange chief business officer Sameer Kumar Patil , right , with Almond Board of Australia CEO Tim Jackson on the ABA ' s recent India trade mission .
LandIQ
The ABA will receive an initial report on a self-funded spatial mapping study on almond plantings across Australia . The board commissioned renowned Californian spatial mapping experts LandIQ to conduct the study along the same lines in which they conduct the biennial plantings survey for the Almond Board of California ( ABC ). Their results have been a game changer for the ABC and we believe the accuracy and timeliness of the data provided through the study will ensure the most informed decisions are being made on a wide range of fronts within the industry . LandIQ boasts an almost 99 % accuracy on its mapping process , which in our case also involved travelling 5000km across five days in early January to ground-truth its findings . Recently the ABA received an enquiry from LandIQ about a potential almond orchard they discovered being grown under shade cloth near Margaret River in WA . ABA had no idea about this orchard and followed up with the landowners and discovered that LandIQ was correct . Unfortunately , the Margaret River will not be counted as a new growing region as the owners informed the ABA that the orchard had been less than successful for a range of reasons and was likely to be pulled out . The discovery of the orchard highlighted the comprehensive nature of LandIQ ’ s spatial mapping .
Trade
The ABA conducted a trade mission to India in early March . Visits to Delhi , Mumbai and Bangaluru were an eye opener . The country is modernising quickly and the opportunities for selling more Australian almonds are plentiful . The new Australian-India Economic Co-operative Trade Agreement has opened up new pricing opportunities and placed Australian almonds on advantageous terms . For the first time purchasing Australian kernel is a viable option . The 50 % reduction in tariffs has resulted in the following differences with California almonds :
• Inshell 17 rupees v 40 rupees
• Kernel 50 rupees v 120 rupees .
The Austrade team led by John Southwell assisted the ABA by hosting a buyers ’ seminar at the Mumbai Consulate and then faceto-face meetings with key figures at Amazon , Big Basket , Flipcart and Ninjacart in Bangaluru . All were very keen to see Australian almonds increase their profile with consumers . Their penetration across India was comprehensive with customers bases of between 350 million and 450 million people . Thanks to the hospitality of Mumbai almond buyer Samir Bhanushali , the ABA contingent were treated to a day-long tour of Mumbai . This included a visit to Samir ’ s BRC accredited processing factory on the outskirts of the city , a presentation at the Bombay Stock Exchange where almonds are being traded and a visit to the Mumbai Produce Market where a number of the traders operate . Traditionally almonds into India have been traded via the Khari Baoli market in Delhi and distributed through India from there . This appears to be changing and the Indian Government is currently building a new mega-port that will consolidate stock and supply 14 ports around India . This too will be a game changer .
Pricing
Pricing for almonds in the world market has steadied since Gulfood in February . Signs that pricing might improve in the year ahead are being prefaced by the pessimistic outlook for the 2023 Californian crop due to poor weather during bloom and since . A light year in production should help the world almond stocks come back into balance from a supply-demand perspective and see pricing improve from very low levels . The gap between nonpareils and pollinators remains relatively small , but has firmed on the back of improved demand in most markets . All eyes will be on the May Subjective Estimate from California as there is speculation that the crop might be lower than this year . Australian export trade remains on record pace as volumes exceeded last year ’ s volumes , with China up 44 % and total exports up 13 %. For a more detailed market update ,
click here .
industry . australianalmonds . com . au
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