Wednesday, January 31, 2007

Macadamia prices drop in wake of large world supply

Tuesday, 30/01/2007
A large amount of macadamia nuts on the world market is expected to hit prices for Australian growers this year.
Prices have almost halved since their peak two years ago, which high returns attracted a large amount of investor interest.
Andrew Heap from the Australian Macadamia Society says many investors in macadamia farms are suprised by the sharp drop.
But he says processors will be wary about offering higher prices.
"After unusually low prices last year, after our own grower prices had been set, that hurt some of our processors, there's no doubt about that," he said.
"They have every reason to be cautious about where the market, considering stock levels and so forth, should open.

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