Business

Gympie macadamia nuts in Japan

THE bush food that Gympie region gave to the world will be giving back even more to the local economy under Australia's new free trade deal with Japan.

The agreement will remove the 3% Japanese tariff on macadamia imports from Australia.

Australian Macadamia Society CEO Jolyon Burnett said the deal would take about $500 off the price of a tonne of Australian macadamia kernel in Japan.

Although not a massive price cut, it has the potential to boost an already growing market, Mr Burnett said.

"Japan is our second largest trading partner, so this deal is hugely significant to our industry and our more than 700 Aussie macadamia growers," he said.

"It will enhance the competitiveness and excellent value of Australian macadamias in the Japanese market.

"The Australian macadamia industry commends (Australian Prime Minister Tony Abbott and Japanese Prime Minister Shinzo Abe) for their determination and commitment to removing barriers to increased trade between our two nations," he said.

Mr Burnett said the new deal had potential over time to translate into additional sales.

"Australia currently sells around 2000 tonnes of kernel in Japan and the strong demand and elimination of tariffs could see this increase significantly," he said.

Other new markets included China, Korea and Taiwan, he said.

Gympie Times

Topics:  business gympie macadamia nuts trade



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