Nuts Receive a Boost of $550,000

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The Australian Nut Industry Council has received a $550,000 federal government grant to help launch a market expansion program in order to give the products more market share overseas. 

The program will help bolster market diversification and sustainability, as well as grow Australia’s clean and green reputation. In 2019-2020, the industry exported more than $1 billion worth of nuts and had a net value of production of $1.14 billion in that time.

The Australian Nut Industry Council will use the information to look at market research, including consumer behaviour, supply chains and currency risk. This will include climate change adaptation, biosecurity, water use, soil and product traceability.

Rural Bank’s recently released Australian agriculture mid-year outlook noted that the global almond supply will remain high with significant almond production also forecast in California, the world’s largest producer, with additional plantings expected to offset the impact of recent drought almond crop. They also said strong global almond production will see prices soften over the coming months.

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