Macadamias: good prospects in South Africa
July 24, 2024 at 12:53 PM ,
Der AUDITOR
Good quality in Australia
In Australia, the forecasts for this year's macadamia crop remain at 50,830 mt of in-shell macadamias (3.5% moisture content) according to the revised estimates of the Australian Macadamia Society, which is 9% less than the originally estimated 56,000 mt. Heavy rainfall at the beginning of April led to harvest delays, but the quality is still rated as good. The market experts at ofi also state that a large proportion of the in-shell macadamias are already tied up in contracts.
Harvest underway in South Africa
According to the experts, the harvest is underway in South Africa and processing is also in full swing. Growers are still hoping for a crop volume of 90,000 mt and are very optimistic about this. Prices are largely stable and many processors report that they will not be able to make offers for shelled macadamias in the near future as they are already sold out. This means a limited supply of macadamia kernels. The same is true for processors in Kenya.
Rising demand and increased production
The experts at ofi also state that prices on the global market for both shelled and in-shell macadamias have remained unchanged in recent weeks. Demand from the key consumer countries of the USA, China and the EU is good, meaning that there could be slight price increases in the future. Buying interest is increasing, particularly from the snack sector. Global macadamia production is expected to increase by 12% this year, which harmonises well with rising demand. This is why ofi estimates that supply and demand will largely balance each other out.
EU increases macadamia imports
EU imports of shelled macadamias increased significantly by almost 12% in the first half of 2024. South Africa is the most important supplier here and was able to increase its exports to EU countries by over 20% year-on-year to 1,673 mt. Kenya (+34.3% to 1,115 mt) and Malawi (+204.7% to 390 mt) follow in second and third place. Australia suffered considerable losses in its shipments to the EU, with a decline of more than 50%, and Guatemala fared similarly.
|
EU macadamia imports, in mt |
|||
|
Supplier |
2023 |
2024 |
Diff. |
|
South Africa |
1,393 |
1,673 |
20.1% |
|
Kenya |
830 |
1,115 |
34.3% |
|
Malawi |
128 |
390 |
204.7% |
|
Australia |
651 |
309 |
-52.5% |
|
Guatemala |
238 |
85 |
-64.3% |
|
Others |
25 |
77 |
208.0% |
|
Total |
3,265 |
3,649 |
11.8% |
|
DG AGRI TAXUD Customs Surveillance System, 01/01-21/07 08026200 Fresh or dried macadamia nuts, shelled |
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