FY2020 Full Year Results - Select Harvest

Record almond crop was offset by lower almond prices and higher water costs

Melbourne-based Select Harvests is Australia's largest almond grower and processor, and is the third largest grower worldwide. While it manages almond orchards in Victoria, New South Wales and South Australia, it is also involved in the manufacture of a variety of food snacks and muesli.

Australian almond production has grown considerably in the last 10 years. In 2013, Australia became the No. 2 almond producer globally. The USA dominates the global almond production industry with 83% of the market, Followed by Australia with 7% and then the EU with 6%, with Spain as the major contributor. Select Harvests is Australia's largest almond producer and the only public listed (ASX) almond producer.

Image: Derco Foods / Almond Board of California

FY2020 Operating Overview
A record almond crop was offset by lower almond prices and higher water costs. The Almond volume stood at 23,250 tons. Up 560 tons, this was the third consecutive year of increasing volume.

The average almond price stood at $7.50/kg, down 12.8% Prices were impacted by an estimated record US crop and COVID-19 market access issues in 2020.

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