Australia will benefit from lower production in California

Australian almond growers will benefit from the decline in production in California.

California, the No. 1 worldwide of the production of almonds (80% of world supply) predicts a smaller harvest. This year's harvest is expected to be down by -2% to about 800 000 tons. The decline pushed the price in other producing countries, such as Australia.

In Australia prices are already up by 31%. If estimates of American crops continue, Australian exports will recognize a real boom.

source : supply management com, abc net au