TIM 0.00% 4.4¢ timbercorp limited

Wednesday, 19 August 2009Almond industry blossoms: AUSBy...

  1. 1,875 Posts.
    Wednesday, 19 August 2009
    Almond industry blossoms: AUS
    By FoodWeek Online @ 1:57 PM 0 Comments Manufacturing and Marketing - Primary Production
    Australia's almond industry has shown a 60 per cent growth in the value of exports this year.

    Julie Haslett, CEO of the Almond Board of Australia, said the increase in the global demand for almonds has contributed to the growth of Australia’s horticultural exports.

    “World almond consumption has been growing at an average rate of nine per cent per annum over the last 10 years," she explained. "Assuming a reduced annual growth rate of five per cent, the world’s demand for almonds is expected to exceed available supply within three years. The Australian almond industry is getting ready for this next surge in demand.”

    Currently, 60 per cent of the Australian almond crop is exported to more than 40 countries around the world, making it Australia’s third largest horticultural export worth $120 million in 2008-2009. Strong export demand for Australia’s almonds is being driven by India and the Middle East, with the value of export sales to these regions having almost tripled since last year.

    According to Haslett, domestic consumption of almonds has also increased in the last year.

    “More than 90 per cent of almonds sold in Australia today are grown and produced by Australian farmers. Australians are eating more almonds, with domestic consumption having increased by over 10 per cent in the last 12 months,” she said.

    Australia currently produces around 3 per cent of the world’s almonds. Over the next three years, as existing plantings reach full maturity, it is forecast that Australia will surpass Spain (8 per cent) to become the world’s second largest almond producer, behind California (82 per cent).

    Australian almond plantings have increased from 3,750 hectares in 1999 to 27,300 hectares in 2008, making it one of Australia’s fastest growing horticulture sectors.

    Haslett said the industry is undergoing rapid expansion.

    “Less than 20 per cent of all Australian almond plantings have reached full maturity so there will be a significant increase in our home grown production within the next decade,” she said.

    The production of Australian almonds reached 36,000 tonnes (kernel) in 2009. It is expected to increase to 80,000 tonnes by 2015, more than doubling the current production.

    The key almond growing areas around Australia include Sunraysia in Victoria, the Riverland and Adelaide in SA and the Riverina region in NSW.

    During the current almond blossom season, which finishes in late August, residents can notice the spectacular almond trees in full blossom and pollinating bees at work.

    “It is a great time for Australian farmers to show off the natural beauty and goodness of the almond crop,” Haslett said.

    The Almond Board of Australia (ABA) is a non-profit, membership-based organisation representing the interests of Australian almond growers, processors and marketers.
 
watchlist Created with Sketch. Add TIM (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.