The impact of extreme weather looks like it will buck a growing trend this year, causing macadamia prices to rise as a recent forecast for Australia’s crop was revised down 13 per cent.
“We take our product from New South Wales right through to far north Queensland, so the actual individual regions have all reacted a little bit differently,” Suncoast Gold Macadamias CEO Lisa Worthington said.
“It’s not too significant when you look at some agricultural crops and how they can vary. However, it is down a little on what we were hoping for.
“The main challenge is to manage your cost and also to ensure that the customers are not let down on their orders which we tend to make much earlier in the year.”
Around 30 per cent of Suncoast Gold Macadamia’s product is consumed domestically, with Japan and the US large customers.
The company is focused on opening markets in developing Asian areas and into Europe.
“One of the areas that we don’t focus a lot on is our nut in-shell export direct to China. We are therefore able to send less under these circumstances and make sure that our processing clients, the ones that take the kernel from us, are not short on their orders,” Ms Worthington said.
With South Africa suffering from severe drought, Australia is currently producing more macadamias than anywhere else in the world.