Nut exports tipped to soar

Nut exports tipped to soar article image

The Australian Nut Industry Council is predicting exports to hit $1 billion by 2020.

The projection is based on increases in price and production coupled with fast-growing Asian demand.

The future for Australian nut exporters certainly looks bright, further boosted by the China Free Trade Agreement (FTA), which will phase out all nut tariffs over the next five years.

China is the world's second largest market for tree nuts.

Tariffs on the three biggest Australian exports, almonds, macadamias and walnuts, currently sit about 25 per cent.

Macadamia leaders alone believe the FTA will double the $35 million their trade is currently worth.

The removal of the tariff on Australian almonds exported to China is expected to further boost almond exports, which have already doubled since 2010 to 68,000 tonnes.

Almond Board of Australia CEO Ross Skinner says almonds already make up more than 50 percent of the current Australian tree nut crop and strong new plantings are underway.

The Australian Nut Industry Council believes the current farmgate value of Australian nuts of $767 million will almost double over the next decade to $1419m.

Hazelnuts, walnuts, pecans and pistachios are predicted to experience outstanding growth.

Also, Australian macadamia growers are predicting a strong lift in yields.

The industry's 40th Anniversary Conference held recently at Lismore on the NSW north coast, heard that new varieties with 30 per cent more yield will be available in 2017-18.


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