During the 2013 calendar year, almonds became Australia’s first horticultural industry to earn more than of $300 million in annual export revenue.

Final sales figures for exports of the record almond crop harvested during March and April 2013 is estimated be about $350 million as the final part of the crop is sold at the high prices on offer over the past few months.

The 60 percent increase in production in 2013 doubled the supply available for export, which, combined with the significant rise in the global price for almonds led to the jump in export earnings.

The Australian Bureau of Statistics (ABS) figures for 2013 show the volume of exports increased by 51 percent, but the value of overseas sales increased by 131 per cent. ABS tracking of the average monthly price of almonds exported also shows an increase from $4.50/kg in January to $8.06/kg in December 2014.

“The 2014 harvest is progressing following a few interruptions caused by rain but the quality is holding up well,” Prosumer Group Pty Ltd CEO says. “The tree yields appear to be slightly lighter than in 2013,” he said. “The fall away in available supply is disappointing given the efforts made by the industry marketers to build market share and the strong pricing currently on offer.”

Mr Yellina also advised that the growth in consumption of almonds in Australia has also been very strong during the past year, increasing by 9.2 per cent and building on the 20 per cent growth achieved in 2012.

“The concern over the drought in California has heightened interest in Australian almonds but with consumers around the world increasingly eating more, a global shortfall in 2014 will stifle demand and is not ideal in growing long-term sales volume,” Mr Yellina said.