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Top 5 -yesterday
- GLOBAL OVERVIEW MANGOES
- “By investing in the farm, we have more control of how things are done"
- "Having introduced the conventional bananas now in Sweden we are looking to introduce our brand into Europe”
- The popularity of a unique exotic fruit set to soar in Australia in coming seasons
- PolyNatural is moving to US to be close with clients from the apple and pear organic market
Top 5 -last week
Top 5 -last month
Korean FTA means big business for AU macadamias
The new agreement comes into force today with an immediate 6 percent tariff reduction followed by a second reduction on 1 January 2015.
The exciting new development follows several years of hard work from the Australian macadamia industry which has set its sights on Korea as an important new market for this iconic Australian native plant food and has since invested over $A1.3 million to introduce macadamia nuts to Korean consumers.
Macadamias are on their way to becoming a firm favourite in Korea, with total imports increasing by 215 per cent over the last five years and exports reaching 253 tonnes with a value of $3.8 million per annum.
With the new tariff in place, the AMS expects the Korean market to grow over the next decade with the potential to reach a similar consumption per head to the Japanese market. This would result in a market of about 2500 tonnes of kernel per annum with a value of about $41 million.
Today’s news caps off a big year for the Australian macadamia industry. FTAs were also announced with China and Japan (the two largest export countries), adding fuel to the already booming Asian demand for Australian macadamias.
For more information:
Australian Macadamia Society
Tel: +61 02 6622 4933
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