Business

Australia wide macadamia shortage due to weather

Macadamia nuts are like gold in a year of short supplies, according to Suncoast Gold CEO Jim Twentyman.
Macadamia nuts are like gold in a year of short supplies, according to Suncoast Gold CEO Jim Twentyman.

THE reserves are long gone and Australia's macadamia industry is forced to confront the shortages that are this year's market reality.

Gympie's Suncoast Gold is one of many Australian processing operations looking at supply worries.

Shortages have pushed up prices, but Australia is not producing enough nuts to take advantage of that.

Australia's only commercially developed bush tucker success story, the macadamia industry depends on export markets and is no longer without international competition.

Suncoast Gold CEO Jim Twentyman echoed concerns expressed by the Australian Macadamia Society that wet weather across many growing regions this year had led to reduced yields.

"It's a fact across the whole country," Mr Twentyman said.

"The long dry to January caused a lot of nuts to fail to develop."

Then came the remnants of tropical cyclone Oswald and the start of a wet season that seemed never to end.

"Strong winds caused more nuts to fall and inflicted damage on trees as well," he said

"Overall the Australian crop has been underperforming for the last couple of years, because of weather events.

"It's been too hot, too dry or too wet.

"Supplies are about 20% down from where they should be."

Topics:  macadamia wet weather

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