We've seen a big price reduction in macadamias as a result of high volumes and slow market uptake. Has the global market for this crop simply become saturated?
We're facing economic headwinds in all of our major markets, with supply outstripping demand and low farm-gate prices. Macadamia products are usually a premium and discretionary purchase, which puts pressure on consumer demand in most markets. Anecdotally, macadamia retail sales are down between 6% and 10% in the US and Europe, while sales during the Mid-Autumn Festival in China were reportedly down between 40% and 50%. With high in-market inventory and prices falling, buyer sentiment is very low.
The global outlook for macadamia demand and sales has therefore become increasingly challenging. We need to work harder to find and activate new sales and marketing opportunities and maintain existing contracts, even with loyal long-term customers.
In September, Macadamias South Africa increased the country's crop estimate for 2022 from 57 723t to 68 522t dry nut-in-shell. This updated forecast is 28,5% higher than the final 2021 crop of 53 320t dry nut-in-shell. In addition, anecdotal reports of a larger than forecast Australian crop are spreading through the markets.
The entire industry is sitting on high levels of unsold stock, and cash flow is becoming the name of the game for many players. Competition for new sales opportunities is fierce and, in some cases, buyers are playing suppliers off against each other, driving prices down to levels we haven't seen in more than 10 years.
What marketing strategy would be required to increase uptake?
Bu hikaye Farmer's Weekly dergisinin 10 February 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Farmer's Weekly dergisinin 10 February 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
The genetically unique Senepol: ideal for beef production in Southern Africa
Since its arrival in South Africa in 2001, the Senepol has become a strong contender in the country's beef cattle arena. Tiekie Muller, owner of the Nooitgedacht Senepol stud, spoke to Annelie Coleman about how the growing number of Senepol stud breeders underpins the value of the breed under exacting African conditions.
Microwave mango and granadilla cheesecake
This delicious mango fridge tart is so easy to make, perfect when you want a quick yet indulgent dessert (it only takes 25 minutes to whip up). The fruit’s gorgeous colour and fragrance are maximised.
Global outlook for wheat in 2024/25
In its latest estimate, the International Grains Council has adjusted global wheat production for the coming season due to poorer-than-expected harvests in the EU. However, global supplies remain strong, while global consumption is expected to increase to reach about 804 million tons. Janine Ryan reports.
From fallow land to award-winning wines: the Newstead story
Newstead Lund Family Vineyards, a relatively new wine estate, has established itself as one of the best producers of sparkling wine in South Africa. Owners Doug and Sue Lund spoke to Glenneis Kriel about their production philosophy, rise to success, and possible expansion plans.
Fact file of fungal diseases in wheat
Wheat is a significant crop, and like other crops, is susceptible to a range of infections. Here, we provide information on the most important fungal diseases that affect wheat.
Soil preparation for wheat and other cereals
For seed to germinate and plants to grow, soil often needs to be prepared. The manner in which it is done depends on the type of soil, the organic matter and moisture it contains, the crop to be planted, as well as the previous crop that was planted in the field. Magda du Toit spoke to cereal experts and farmers for guidance.
The origin of the Bonsmara
The Breed of the Month for March is the Bonsmara. In this first article, we take a look at the man behind this popular cattle breed, as well as how it was developed.
The Southern Sun Cape Sun hotel is once again a destination of choice
While some of its contemporaries have suffered from inner-city neglect, the Southern Sun Cape Sun hotel has bounced back in elegance and style, writes Brian Berkman.
Age catches up with the Nissan Navara
The Navara line-up was increased last year in Nissan's effort to win back market share. The Citizen's Mark Jones sampled the top-of-the-range Pro-4X to see how the double cab compares with modern bakkies.
Growing onion sets
Bill Kerr discusses what onion sets are, and how and when to produce them to obtain the maximum financial benefit.
