The 2015 Australian macadamia crop remains on track to hit 47,000 tonnes in-shell, according to peak industry body, the Australian Macadamia Society (AMS).
In its third forecast for the year, AMS revealed about 25 per cent of the crop is still likely to be sold as in-shell, with the remainder forecast to produce around 10,800 tonnes of kernel, up from 10,400 tonnes in the previous estimate. Although modest, AMS chief executive officer Jolyon Burnett the additional kernel supply will be welcomed by the market, especially in the Asian region.
“Around 37 per cent of Australian kernel is sold to Asia, and it continues to rise,” Burnett explained. “Kernel sales to Japan for example have risen 11 per cent over the last 12 months (to June 2015) and in other parts of Asia the growth has been as high as 28 per cent.”
In a bid to bolster the industry’s foothold in the Far East, AMS chairman Richard Doggett was part of a senior business delegation to China in August. The 30-member delegation was organised by Austrade and led by federal trade and investment minister, Andrew Robb.
Doggett joined representatives from Citrus Australia, Australian Dairy Farmers and Meat and Livestock Australia on the delegation, which focused on developing opportunities for agri-investment and servicing China’s booming e-commerce market.
Doggett also accompanied Robb, Australian ambassador Frances Adamson and the heads of Austrade in China to a dinner hosted by Minister Gao, seventh in line to the leadership of The Politburo of The Peoples Republic of China.
“The dinner was a very formal affair, with conversations conducted through interpreters and both sides reinforcing with confidence the importance and execution of this historical agreement,” said Doggett. “Our participation in this mission is testament to the high-standing with which our industry is held on an international level and we were able to develop some excellent new contacts.”
AMS will provide a final crop figure in December once all factory receipts have been collated. The latest crop estimate update is based on receivals (until end of July) by participating handlers. Approximately 10 per cent per cent of the crop is still to be delivered.