Macadamias Nuts, Market Update 21.09.2023

Despite prices being at record lows due to over- supply, economic weakness (whereby more expensive non-essential items do not move off the shelves as fast) and the advent of China as supplier rather than importer; there have been reports that China have been rather active in the market buying kernels and have ‘mopped up’ a lot of product which will reduce carry over stock at the end of this season. This may serve to stabilise the market for Style 1’s and 2’s at least. The question therefore becomes why the Chinese are buying when they have ‘local’ production?