Almond Insights 2014-15 www.australianalmonds.com.au

This publication was produced by the Almond Board of Australia.

For further information contact:

ALMOND BOARD OF AUSTRALIA PO Box 2246, BERRI SA 5343 Australia

T +61 8 8582 2055 E admin@australianalmonds.com.au

www.australianalmonds.com.au

This project was partially funded by the Australian Government through Horticulture Innovation Australia Limited.

Page | 3

Contents

Executive Summary 4

The Almond Board of Australia 5

Plantings 6

Production 9

Supply 11

Consumption 12

Export Sales 13

Top 10 Export Regions 14

World Export Destinations 15

Marketing our Brand ‘Australian Almonds’ 16

Foreign Exchange 16

Global 17

Almond Marketers 19

4 | Page

Executive Summary

Almonds are the main driver of growth in Australian horticultural exports. In 2014/15, almonds were Australia’s most valuable horticultural export product with annual export sales of $422 million, an increase of 14% on the previous year. Sales for the first six months were up 54% but the lack of almonds in the later months stifled sales. Over the past five years export sales have increased 246%.

In 2015/16, export sales will reach $600 million, largely due to the 2015 crop being 10,000 tonnes larger than that of 2014.

The industry’s sales on the domestic market increased 6% during the marketing year from March to February, and totaled 22,033 tonnes. Over the past five years domestic sales have increased 55%.

The Australian almond industry has come a very long way in a short period of time with the massive increases in production since the planting boom of the mid 2000s being cleared at record prices during 2014/15.

The profitability of the industry is prompting a further period of major orchard expansion.

Already Australia’s leading horticultural export product, the almond industry will in 2015 become Australia’s most valuable single commodity horticultural industry. Almonds will generate around 10% of Australian horticulture’s gross value of production. A remarkable achievement given the size of the industry a decade ago.

A Californian study has found that for every $1 million of farmgate revenue, 9 people are either directly or indirectly employed. Should this finding hold true in Australia, the almond industry here supports over 7,000 jobs.

The information contained in this booklet provides industry stakeholders, government and those in the broader community with the key statistics on the productive capacity, crop, markets and demand for Australian almonds within the global context.

The booklet is prepared on a marketing year basis spanning March 2014 to February 2015 based on data provided to the ABA from growers, processors and marketers on a confidential basis. Information was also sourced from the Australian Bureau of Statistics (ABS), Australian Nut Industry Council (ANIC), International Nut and Dried Fruit Council (INC) and the Almond Board of California (ABC). This assistance is gratefully acknowledged.

Neale Bennett Ross Skinner Chair CEO

Page | 5

The Almond Board of Australia

Brendan Sidhu Riverland Region

Grower Representative

Neale Bennett Chairman &

Sunraysia Region Grower Representative

Denis Dinicola Riverina Region

Grower Representative

Grant Birrell Marketing

Representative

Domenic Cavallaro Adelaide Region

Grower Representative

Laurence Van Driel Marketing

Representative

Peter Cavallaro Riverland Region

Grower Representative

Tim Orr Sunraysia Region

Grower Representative

Damien Houlahan Deputy Chairman &

Marketing Representative

Brenton Woolston Marketing

Representative

Ross Skinner Chief Executive Officer

The ABA Board comprises four Marketing Directors and six Grower Directors: two representatives from both the Riverland and Sunraysia regions and one representative from both the Adelaide and Riverina regions. Directors are elected at the ABA Annual General Meeting by Grower Members for a two-year appointment.

The ABA Board meets on a quarterly basis to guide the management of the organisation. The Board represents the national interests of the industry’s producers, processors and marketers, providing strategic direction for the industry and its research and development program that supports the implementation of the industry plan. The Board is responsible for the governance of the organisation and the investment of ABA funds in the R&D, market development and administrative programs.

The information contained in this document assists in the planning and execution of the ABA’s programs to benefit the industry.

The Role of the The Almond Board of AustraliaThe Almond Board of Australia is guiding the industry’s development by implementing its strategic plan for Australian almonds. The Plan involves addressing productivity issues such as: input costs and efficiency; yield improvement; risk management; building domestic consumption; product value; and brand awareness of Australian almonds in export markets.

To achieve these strategies, the ABA relies on funding for specific projects from the R&D levy administered and matched by the Commonwealth via Horticulture Innovation Australia Ltd. The industry’s R&D plan and the resulting projects deliver the outputs of knowledge and technology required by the ABA to implement the industry’s strategic plan.

The ABA also facilitates an enhanced operating environment for industry stakeholders by providing advocacy on industry wide issues.

6 | Page

Plantings

124

3

67%19,417ha 19%

5,568ha

1. Sunraysia (VIC)

2. Riverland (SA)

11%3,255ha

3%727ha

3. Riverina (NSW)

4. Adelaide Plains (SA)

Almonds were first planted in Australia on Kangaroo Island in 1836 and soon spread to private gardens throughout Adelaide and other South Australian towns due to the state’s suitable Mediterranean climate.

The modern industry’s major variety Nonpareil was imported from California in 1882 and by the end of the 1800s small commercial almond orchards of an acre or two were established near Adelaide. The scale of orchard plantings has changed dramatically since then with almonds being well suited to highly mechanised production. Large scale orchards are now located in the Riverland, Sunraysia and Riverina regions of Australia. The availability of suitable deep loam soils close to the Murray River facilitated the rapid growth of almond plantings during the early and mid 2000s.

Orchard Plantings by Region

ha = 1,000 ha

Page | 7

Plantings

Since 2001 the total area planted to almonds has increased from 5,244 hectares to 28,967 hectares in 2014. The planting of almond trees reached a peak in 2007 when 7,389 hectares of orchard were established. Since 2007, planting has slowed with a total of 6,398 hectares added. However, this is poised to change with thousands of hectares of new plantings expected in the next few years due to the upswing in the global price for almonds.

The availability of water, particularly in dry periods, is a limiting factor on the development of new greenfield orchard developments as is land near to the river unencumbered by salinity regulations. The redevelopment of vineyards to almond orchards in community irrigation scheme areas is being considered by a number of winegrape growers, but the cost of harvesting equipment and the need to devote human resources to managing birds are considerations when determining the viability of small scale almond farms.

Orchard Plantings Bearing Status by Year

Orchard Area Planted by Year (Hectares)

Pre 200614,818

20065,844

20077,389

20081,931

2009448

20101,379

20111,555

2012116

2013417

2014552

15,000

12,500

10,000

7,500

5,000

2,500

0

Hec

tare

s

Bearing Non-Bearing

Hec

tare

s

30,000

28,000

26,000

24,000

22,000

20,000

18,000

16,000

14,000

12,000

10,000

8,000

6,000

4,000

2,000

0

19901991

19921993

19941995

19961997

19981999

20002001

20022003

20042005

20062007

20082009

20102011

20122013

2014

= 250 ha

8 | Page

Plantings

Current Almond Plantings by Variety (Hectares)

Variety Pre 06 2006 2007 2008 2009 2010 2011 2012 2013 2014 TOTALNon

BearingMaturing

Fully Mature

Baxendale 41 0 0 0 0 0 0 0 0 0 41 0 0 41

Butte 0 3 40 7 0 0 0 0 0 0 50 0 7 42

Carmel 3,627 1,878 2,309 630 98 189 208 31 93 96 9,160 220 1,125 7,815

Chellaston 12 0 0 0 0 0 0 0 0 0 12 0 0 12

Davey 3 0 0 0 0 0 0 0 0 0 3 0 0 3

Fritz 86 0 0 0 0 0 0 0 0 0 86 0 0 86

Independence 0 0 0 0 0 0 0 0 0 86 86 86 0 0

Johnston 33 0 0 0 0 1 0 0 0 0 34 0 1 34

Keane 45 4 14 5 2 2 0 0 0 0 71 0 9 62

Milo 1 0 0 0 0 0 0 0 0 0 1 0 0 1

Mission 59 0 0 0 0 0 0 0 0 0 59 0 0 59

Monterey 34 64 68 18 66 59 115 16 73 73 585 161 258 166

Ne Plus 199 0 0 0 0 0 0 1 0 0 199 1 0 199

Nonpareil 6,340 2,749 3,300 910 220 272 359 58 193 241 14,642 492 1,761 12,389

Other 18 0 0 0 3 0 0 0 0 0 21 0 3 18

Padre 0 3 39 7 0 0 0 0 0 0 49 0 7 42

Peerless 284 54 53 7 3 0 2 0 2 0 406 2 12 391

Price 1,489 724 830 255 13 22 31 11 15 27 3,417 53 322 3,043

Somerton 13 0 0 0 0 1 0 0 0 0 14 0 1 13

Wood Colony 0 0 0 0 0 0 3 0 0 28 32 29 3 0

Total 12,284 5,479 6,653 1,838 405 547 718 116 377 552 28,967 1,044 3,508 24,415

% by year 42% 19% 23% 6% 1% 2% 2% 0% 1% 2% 4% 12% 84%

Current Almond Plantings - Major Varieties (Hectares)

Total 28,967 ha

Nonpareil 50.5%

14,642 haCarmel 31.6%

9,160 ha

Price 11.8%

3,417 ha

Other

6.0%

1,748 ha

Page | 9

Production

65%42,237t

Victoria

22%14,255t

South Australia

13%8,568t

New South Wales

65%42,237t

Victoria

65%42,237t

Victoria

22%14,255t

South Australia

13%8,568t

New South Wales

65%42,237t

Victoria

65%42,237t

Victoria

22%14,255t

South Australia

13%8,568t

New South Wales

22%14,255t

South Australia

13%8,568t

New South Wales

22%14,255t

South Australia

13%8,568t

New South Wales

Commercial almond production in Australia mostly occurs within the Murray Valley, westward from Griffith across to the Northern Adelaide Plain. Some smaller orchards still remain at Willunga, the pioneering region for Australian almonds. The producing regions are found in three states: the Riverina region of New South Wales; the Swan Hill and Sunraysia regions of Victoria; and the Riverland and Adelaide regions of South Australia.

Almond trees take three years to bear a crop and around seven years to reach mature production levels that average around 3.2 tonnes per hectare. With 1,044 hectares or 3.6% of the plantings not yet bearing and 12% of bearing trees not yet fully mature, the industry’s production will continue to trend upwards in coming years towards 83,000 tonnes regardless of future plantings.

Australian almond production in 2014 totalled 65,060 tonnes (kernel weight equivalent) and the estimated tonnage for 2015 is 75,000 tonnes.

2014 Almond Production- by State (Kernel)

Almond Production - Past & Present (Kernel)

ha = 1,000 t = 1,000 t

10 | Page

Production2014 Kernel Size by Variety

(kernels per ounce)

Production by Variety (Kernel)

The annual crop faces risks from pests, fungal diseases, poor cross pollination and rain during harvest. Good orchard management in terms of irrigation and nutrition are also critical to maximising the potential crop.

The large scale of many almond orchards and mechanised harvest systems enables production to be very efficient.

Trees are shaken commencing in February and this continues through to April. The harvested fruit including hull, shell and kernel are stockpiled awaiting processing to remove the hull and produce in-shell product or hulled and shelled to produce kernel. Chipped and scratched product that occurs during processing can be used to produce a range of products including those made following the removal of the skin such as blanched whole kernel, a range of diced and sliced pieces and almond meal. Almond milk is now the most popular plant based milk, with sales now greater than soy milk.

Almond Varieties, Sizes & Grades

Australian almond kernel sizes are consistent with international standards and are represented as the number of almonds per ounce. Australian almonds are graded as: Fancy, Extra Supreme, Supreme, and Manufacturing.

Variety 2006 2007 2008 2009 2010 2011 2012 2013 2014

Baxendale 163 1% 230 1% 168 1% 173 0% 160 0% 105 0% 21 0.0% 118 0% 1,103 1.7%

Carmel 4,246 27% 7,383 27% 7,996 31% 11,681 32% 10,561 27% 14,091 37% 15,718 31.7% 26,922 37% 19,834 30.5%

Chellaston 59 0% 62 0% 23 0% 33 0% 15 0% 24 0% 4 0.0% 18 0% 3 0.0%

Fritz 249 2% 331 1% 240 1% 151 0% 198 1% 85 0% 108 0.2% 99 0% 108 0.2%

Johnston 30 0% 36 0% 35 0% 47 0% 24 0% 36 0% 13 0.0% 31 0% 11 0.0%

Keane 112 1% 132 0% 70 0% 69 0% 79 0% 65 0% 71 0.1% 112 0% 103 0.2%

Mission 273 2% 314 1% 251 1% 196 1% 156 0% 146 0% 23 0.0% 133 0% 43 0.1%

Monterey 5 0% 24 0% 42 0% 97 0% 181 0% 328 1% 429 0.9% 689 1% 704 1.1%

Ne Plus 594 4% 823 3% 527 2% 443 1% 425 1% 290 1% 276 0.6% 409 1% 453 0.7%

Nonpareil 7,989 50% 13,751 51% 13,376 51% 18,686 51% 21,219 54% 17,154 46% 25,766 52.0% 36,305 49% 33,772 51.9%

Peerless 576 4% 936 3% 597 2% 693 2% 747 2% 765 2% 715 1.4% 949 1% 970 1.5%

Price 903 6% 2,037 8% 2,338 9% 4,023 11% 3,936 10% 4,196 11% 5,796 11.7% 7,212 10% 7,124 11.0%

Other* 802 5% 824 3% 342 1% 112 0% 1,379 4% 340 1% 645 1% 364 0% 830 1%

Total 16,001 100% 26,882 100% 26,006 100% 36,403 100% 39,081 100% 37,626 100% 49,585 100% 73,361 100% 65,060 100%

50%

45%

40%

35%

30%

25%

20%

15%

10%

5%

0%

16/18 18/20 20/22 23/25 25/27 27/30 30/35 35/40 OtherNonpareil 0.9% 7.2% 17.3% 32.5% 19.9% 11.0% 5.8% 3.9% 1.5%

Carmel 1.2% 2.7% 11.2% 44.8% 20.9% 10.7% 5.6% 1.6% 1.2%

Price 1.0% 3.3% 5.9% 16.9% 30.2% 17.8% 13.5% 10.7% 0.6%

TOTAL 1.0% 5.2% 14.0% 35.1% 21.4% 11.6% 6.5% 3.8% 1.3%

LargerSmaller

Nonpareil Carmel Price

Page | 11

SupplyAustralian Export & Domestic Supply

(Marketing Year) Kernel equivalentThe almond industry is growing very rapidly in terms of production and value. The rapid growth in production has meant the supply of Australian almonds now far exceeds consumption by the domestic market. Export demand has become crucial with around 55,000 tonnes available to sell overseas in 2015/16. 2008/09

2009/10

2010/11

2011/12

2012/13

2013/14

2014/15

Tonnes0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 50,000 55,000

1,250

15,402

901

24,132

1,085

21,315

1,861

24,483

14,535

13,355

14,546

14,961

2,847 17,350

31,047

1,946 18,856

48,788

2,127 19,905

49,751

Exports

Domestic Supply

Imports

= 500 t

12 | Page

Consumption

2008 2009 2010 2011 2012 2013 2014674g 618g 693g 738g 849g 909g 934g

1,000g

750g

500g

250g

0g

gra

ms

per

per

son

Sources: ABA, ABS

Australian Consumption (g/person kernel)

Forms of Australian Almonds

In Shell

Kernel Whole Blanched

Blanched Sliced

MealSlivered

Natural Sliced

Almonds are consumed as snacks either as raw or roasted kernels that can also have seasoning added to flavour the almonds. Almonds are also widely used in home cooking and restaurant dishes. Gluten free almond meal is gaining in popularity as a replacement for flour in baking.

Almonds are a popular ingredient in the dishes of many nationalities and the broadening palate of Australians means many more are eating cuisines from all over the world increasing the local demand for almonds.

As almonds can be processed into a range of products they are used in many supermarket products to provide flavour, texture and a healthy image. In the twelve month period to March 2015, 192 new products using almonds as an ingredient were stocked by supermarkets. Cashews were the next most popular tree nut used in 72 products.

= 50g

Page | 13

Export Sales

The combined value of domestic and export sales from the 2015 crop is forecast to exceed $800 million. With 16% of existing orchards either not yet bearing or not in full production the productive capacity of the orchards already planted will move above 80,000 tonnes. The planned orchard expansion in the next few years will move future production levels well above 100,000 tonnes and the farmgate value of the industry at current returns will far exceed $1 billion in the early 2020s.

Health is a key driver for the global demand of almonds.

In addition to being a good source of protein, almonds have also been marketed as a good source of vitamin E, dietary fibre and monounsaturated fat which has been associated with decreased risk of heart disease.

Scientific evidence continues to mount showing that a diet that includes a handful of almonds three to four times a week may help maintain healthy hearts, reduce weight, prevent diabetes, fight arthritis and reduce cancer mortality.

Exports by Type (2014/15 Marketing Year)

Kernel68%

Inshell32%

Exports by Region (2014/15 Marketing Year)

Europe42%

Middle East & Africa13%

Americas12%

Asia Pacific Oceania

33%

14 | Page

Top 10 Export Regions

24%

21%

15%

11%

11%

5%

4%

3%

3%

2%

Country/Region Kernel (kgs) Kernel $AUD Inshell (kgs) Inshell $AUD Total Percent

South Central Asia 366,524.80 $ 2,349,275.00 15,656,084.24 $ 97,426,313.00 $ 99,775,588.00 24%

Southern Europe 11,127,050.74 $ 89,305,097.00 72,202.24 $ 573,383.00 $ 89,878,480.00 21%

Western Europe 6,656,807.48 $ 61,565,537.00 16,102.54 $ 156,893.00 $ 61,722,430.00 15%

United States 6,741,869.45 $ 43,820,193.00 899,926.00 $ 4,184,963.00 $ 48,005,156.00 11%

Middle East 5,186,091.50 $ 47,246,670.00 32,477.80 $ 296,771.00 $ 47,543,441.00 11%

Northern Europe 2,243,459.56 $ 19,405,702.00 - - $ 19,405,702.00 5%

South East Asia 1,470,567.40 $ 14,877,317.00 90,261.82 $ 1,028,945.00 $ 15,906,262.00 4%

New Zealand 1,211,966.72 $ 12,831,703.00 60,429.72 $ 710,642.00 $ 13,542,345.00 3%

North East Asia 617,726.53 $ 6,086,918.00 867,919.00 $ 5,453,852.00 $ 11,540,770.00 3%

Northern Africa 925,926.76 $ 7,362,690.00 - - $ 7,362,690.00 2%

Others 816,259.90 $ 7,459,128.00 $ 7,459,128.00 2%

Total 37,364,250.84 $ 312,310,230.00 17,695,403.36 $ 109,831,762.00 $ 422,141,992.00 100%

2014/15 Marketing Year

Page | 15

World Export DestinationsFifty countries now buy Australian almonds, with India being Australia’s largest overseas market. Spain and the USA were also large markets for Australian almonds in 2014/15 and sales to the United Arab Emirates increased substantially.

Almonds have long been an integral part of India’s cultural heritage, especially during festive periods and weddings. The Indian market has a preference for inshell product, which is then hand cracked. Australian product provides an excellent crackout ratio (kernel to inshell weight) and Indian buyers have expressed a liking for the quality of Australian product, commenting that it lifts the market whenever new season product becomes available.

Country Kernel (kgs) Kernel $AUD Inshell (kgs) Inshell $AUD Total

India 366,525 $ 2,349,275 15,656,084 $ 97,426,313 $ 99,775,588 Spain 7,678,946 $ 59,765,597 36,981 $ 299,916 $ 60,065,513 United States of America 6,741,869 $ 43,820,193 899,926 $ 4,184,963 $ 48,005,156 United Arab Emirates 4,388,041 $ 39,142,684 17,237 $ 140,833 $ 39,283,517 Germany 3,070,119 $ 28,222,602 16,103 $ 156,893 $ 28,379,495 Italy 2,469,845 $ 20,649,162 35,221 $ 273,467 $ 20,922,629 Netherlands 1,921,814 $ 17,745,292 - - $ 17,745,292 New Zealand 1,211,967 $ 12,831,703 60,430 $ 710,642 $ 13,542,345 Thailand 1,119,661 $ 11,191,331 - - $ 11,191,331 Hong Kong (SAR of China) 428,701 $ 4,168,960 867,919 $ 5,453,852 $ 9,622,812 France 1,019,781 $ 9,190,419 - - $ 9,190,419 Sweden 835,964 $ 7,285,550 - - $ 7,285,550 Turkey 674,088 $ 6,244,542 - - $ 6,244,542 United Kingdom 677,405 $ 6,094,357 - - $ 6,094,357 Norway 494,064 $ 4,188,613 - - $ 4,188,613 Lebanon 380,746 $ 3,966,748 15,177 $ 155,738 $ 4,122,486 Poland 416,927 $ 3,857,049 - - $ 3,857,049 Switzerland 309,990 $ 3,211,824 - - $ 3,211,824 Belgium 335,103 $ 3,195,400 - - $ 3,195,400 Tunisia 255,598 $ 2,596,545 - - $ 2,596,545 Egypt 326,524 $ 2,485,347 - - $ 2,485,347 Algeria 343,805 $ 2,280,798 - - $ 2,280,798 Saudi Arabia 225,684 $ 2,271,741 - - $ 2,271,741 Singapore 205,780 $ 2,082,224 13,494 $ 136,292 $ 2,218,516 Kuwait 191,620 $ 1,865,497 - - $ 1,865,497 Denmark 236,026 $ 1,837,182 - - $ 1,837,182 Malaysia 84,028 $ 879,933 76,760 $ 892,480 $ 1,772,413 Greece 167,808 $ 1,516,330 - - $ 1,516,330 Canada 154,372 $ 1,364,858 - - $ 1,364,858 South Africa 115,725 $ 1,039,663 - - $ 1,039,663 Korea, Republic of 93,549 $ 914,246 - - $ 914,246 Croatia 103,885 $ 863,249 - - $ 863,249 Russian Federation 86,183 $ 810,820 - - $ 810,820 Taiwan 44,505 $ 441,469 - - $ 441,469 Viet Nam 37,655 $ 436,560 - - $ 436,560 Japan 32,305 $ 356,701 - - $ 356,701 Czech Republic 33,307 $ 286,058 - - $ 286,058 Portugal 32,480 $ 266,217 - - $ 266,217 China (excluding SARs and Taiwan) 18,667 $ 205,542 - - $ 205,542 Philippines 10,966 $ 158,193 - - $ 158,193 Indonesia 12,181 $ 123,239 - - $ 123,239 Fiji 5,184 $ 51,368 - - $ 51,368 Mauritius 4,562 $ 49,312 - - $ 49,312 Brunei Darussalam 208 $ 3,794 - - $ 3,794 Papua New Guinea 88 $ 2,043 - - $ 2,043 Bahrain - - 64 $ 200 $ 200 Cambodia - - 8 $ 173 $ 173

TOTAL 37,364,251 $ 312,310,230 17,695,403 $ 109,831,762 $ 422,141,992

2014/15 Marketing Year

16 | Page

Marketing The Brand ‘Australian Almonds’A key feature of our Export Market Development Program is our collaborative work in marketing the brand ‘Australian Almonds’ in our major export markets.

Over the past year, we have exhibited at six major international trade fairs covering both current major markets and potential growth markets.

Our promotions at Gulfoods in Dubai and Sial in Paris attract key customers from India, the Middle East and Europe.

We have also promoted the brand ‘Australian Almonds’ in the three markets with whom Australia has recently signed Free Trade Agreements (FTAs): South Korea, Japan and China. From a strategic market development perspective, we exhibited at Asia Fruit Logistica in Hong Kong to grow the presence of almonds within the Fresh Produce categories of Asian supermarkets

$1.10

$1.05

$1.00

$0.95

$0.90

$0.85

$0.80

$0.75

$0.70

$0.65

$0.60

AUD vs USD

AUD

The exchange rate of the Australian dollar to the US dollar impacts directly on the price achieved by Australian marketers and returns to growers. As the US dominates world production and supply to export markets, almonds are traded internationally in US dollars. The rate at which this converts to Australian dollars can have a major impact on revenue and the bottom line of Australian businesses.

During 2014/15, the Australian dollar fell well below parity, increasing the return from overseas sales contracted in US dollars.

Foreign ExchangeU

SD

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Page | 17

GlobalWorld Almond Actual + Projected Demand vs Supply

The growth of the global almond industry has been dramatic with Californian almond production increasing threefold in the past fifteen years. Almonds grown in California were the USA’s most valuable horticultural product in 2014. The USA produced around 85% of the global crop and invests heavily in overseas market development and domestic promotion.

Australia has focused its market development activities on the domestic market and has succeeded in building sales by 54.5% in the past five years. With exports now being a major key to the Australian industry’s continued growth, an equitable funding arrangement has been reached between investment in domestic and export market development.

California Almond Exports by Region % 2013/14

North America36.0%

Latin America/Caribbean1.1%

Source: ABC

Western Europe27.5%

Asia Pacific 22.4%

Middle East/ Africa10.2%

Central/Eastern Europe2.9%

Year New Plantings

Total Industry

2006 13,733 283,280

2007 12,938 305,538

2008 5,820 309,585

2009 8,773 333,866

2010 7,391 339,936

2011 5,407 346,006

2012 6,054 354,100

2013 4,965 376,358

2014 4,494* 380,405*

US Almond Plantings by Year (Ha)

World Production 2014

Source: ABC *US 2014 Crop Production figures as at June 2014

Supply Consumption Production Carry-Out

Ton

nes

20122013

20142015

1,400,000

1,200,000

1,000,000

800,000

600,000

400,000

200,000

0

20062007

20082009

20102011

20162017

Fore

cast

Su

pp

ly &

Po

ten

tial

Dem

and

Source: ABC*Estimated as at June 2014

USA 85.5%*

Australia6.1%

Spain4.5%

Turkey1.2%

Other2%

Chile0.6%

18 | Page

Global

*US 2014 Crop Production figures as at June 2014 Sources: ABA, ABC, INC, USDA

Global Almond Production (Kernel)

YEAR AUS CHILE CHINA GREECE INDIA ITALY SPAIN TURKEY US WorldUS% AUS%

lbs (mill) Tonnes lbs (mill) Tonnes lbs (mill) Tonnes lbs (mill) Tonnes lbs (mill) Tonnes lbs (mill) Tonnes lbs (mill) Tonnes lbs (mill) Tonnes lbs (mill) Tonnes lbs (mill) Tonnes

1990 5.3 2,409 34.2 15,513 41.9 19,006 137.8 62,505 33.1 15,014 488.5 221,580 939.0 425,910 52.0% 0.6%

1991 6.6 3,022 24.3 11,022 24.3 11,022 142.2 64,501 33.7 15,286 656.2 297,647 776.4 352,157 84.5% 0.9%

1992 7.8 3,560 35.3 16,012 39.7 18,008 158.5 71,895 34.6 15,694 485.9 220,401 877.3 397,955 55.4% 0.9%

1993 9.1 4,140 44.1 20,003 33.1 15,014 185.2 84,005 35.3 16,012 545.9 247,616 844.3 382,951 64.7% 1.1%

1994 10.1 4,592 35.3 16,012 30.9 14,016 154.9 70,261 34.6 15,694 488.3 221,489 1,003.3 455,097 48.7% 1.0%

1995 11.2 5,084 35.3 16,000 33.1 15,014 99.9 45,314 30.2 13,698 732.7 332,347 1,019.6 462,497 71.9% 1.1%

1996 12.1 5,471 28.7 13,000 13.2 5,987 132.3 60,010 31.5 14,288 366.7 166,332 603.3 273,631 60.8% 2.0%

1997 12.8 5,784 27.6 12,500 24.3 11,022 165.3 74,979 24.3 11,022 507.5 230,198 705.8 320,132 71.9% 1.8%

1998 13.5 6,104 24.3 11,000 19.8 8,981 66.1 29,982 26.5 12,020 756.5 343,143 1,010.3 458,277 74.9% 1.3%

1999 14.1 6,390 8.8 4,000 37.5 17,010 145.5 65,998 30.9 14,016 517.0 234,507 652.2 295,839 79.3% 2.2%

2000 18.9 8,558 32.0 14,500 22.0 9,979 116.8 52,980 34.2 15,513 829.9 376,436 1,084.0 491,709 76.6% 1.7%

2001 20.2 9,142 8.8 4,000 19.8 9,000 2.2 1,000 39.7 18,008 125.7 57,017 30.9 14,016 698.4 316,789 913.6 414,380 76.4% 2.2%

2002 21.0 9,542 13.2 6,000 37.9 17,200 2.4 1,100 19.8 8,981 145.5 65,998 30.9 14,016 824.1 373,805 1,050.0 476,272 78.5% 2.0%

2003 22.6 10,238 9.9 4,500 19.8 9,000 2.2 1,000 13.2 6,000 59.5 27,000 30.2 13,700 1,083.7 491,558 1,164.6 528,242 93.1% 1.9%

2004 25.9 11,743 16.5 7,500 0.2 100 11.0 5,000 2.4 1,100 19.8 9,000 33.1 15,000 27.1 12,300 1,032.9 468,516 1,111.1 504,000 93.0% 2.3%

2005 36.2 16,431 9.3 4,200 2.2 1,000 35.3 16,000 2.5 1,150 33.1 15,000 132.3 60,000 30.2 13,700 998.0 452,685 1,306.6 592,650 76.4% 2.8%

2006 35.3 16,001 15.2 6,900 0.4 200 26.5 12,000 2.6 1,200 37.5 17,000 132.3 60,000 31.7 14,400 911.7 413,540 1,505.2 682,749 60.6% 2.3%

2007 59.3 26,882 19.4 8,800 2.9 1,300 26.5 12,000 2.2 1,000 33.0 14,969 66.1 30,000 34.2 15,500 1,116.7 506,527 1,754.9 796,021 63.6% 3.4%

2008 57.3 26,006 17.6 8,000 0.9 400 26.5 12,000 2.6 1,200 23.1 10,500 77.2 35,000 35.3 16,000 1,383.0 627,318 2,007.3 910,477 68.9% 2.9%

2009 80.3 36,403 13.2 6,000 2.2 1,000 17.6 8,000 2.4 1,100 13.2 6,000 152.1 69,000 35.3 16,000 1,614.6 732,370 1,883.6 854,400 85.7% 4.3%

2010 86.2 39,081 19.8 9,000 5.5 2,500 17.6 8,000 2.6 1,200 13.2 6,000 77.2 35,000 30.9 14,000 1,405.9 637,706 2,028.6 920,163 69.3% 4.2%

2011 83.0 37,626 20.1 9,100 8.8 4,000 17.6 8,000 2.4 1,100 26.5 12,000 110.2 50,000 35.3 16,000 1,628.2 738,539 2,497.1 1,132,666 65.2% 3.3%

2012 109.3 49,585 18.3 8,300 11.0 5,000 17.6 8,000 2.6 1,200 27.6 12,500 99.2 45,000 37.5 17,000 2,020.3 916,393 2,346.8 1,064,474 86.1% 4.7%

2013 161.7 73,361 8.6 3,900 13.2 6,000 11.0 5,000 2.4 1,100 11.0 5,000 70.5 32,000 39.7 18,000 1,885.0 855,022 2,438.3 1,106,014 77.3% 6.6%

2014 143.4 65,060 13.2 6,000 15.4 7,000 11.0 5,000 2.6 1,200 19.8 9,000 105.8 48,000 28.7 13,000 2,009.7 911,585 2,349.8 1,065,844 85.5% 6.1%

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Almond Marketers

Olam Orchards Australia 55 Wyandra Street, Newstead QLD 4006

Ph: +61 7 3250 3300 Fax: +61 7 3852 1600www.olamonline.com

Nut Producers Australia Ltd 249 Wright Street, Adelaide SA 5000

Ph: +61 8 8231 7011 Fax: +61 8 8231 2177Enquiries: nuts@nutproducers.com.au

www.nutproducers.com.au

Almondco Australia LtdSturt Highway, PO Box 1744, Renmark SA 5341

Ph: +61 8 8586 8800 Fax: +61 8 8595 1559 Enquiries: sales@almondco.com.au

www.almondco.com.au

Select Harvests Ltd360 Settlement Road, Thomastown VIC 3074

Ph: +61 3 9474 3544 Fax: +61 3 9474 3588Enquiries: info@selectharvests.com.au

www.selectharvests.com.au

Bright Light Agribusiness Pty Ltd Unit 7/435 Williamstown Road, Port Melbourne VIC 3207

Ph: (03) 9674 8188 Enquiries: jackl@acapacific.com.au

Australian Almond Insights Report 2014-15 can be downloaded from www.australianalmonds.com.au

Almond Board of Australia Inc.ABN 31 709 079 0999 William Street PO Box 2246 Berri South Australia 5343P + 61 8 8582 2055

E admin@australianalmonds.com.auW www.australianalmonds.com.au

JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER

Blossom in August - Harvest in February - Fresh in March

Harvest Available fresh Blossom