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Macadamias: good prospects in South Africa

July 24, 2024 at 12:53 PM , Der AUDITOR
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CANBERRA/CAPE TOWN. South African macadamia growers are very optimistic about the 2024 crop. In Australia, estimates had to be revised slightly, but overall the situation on the international market appears promising.

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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