Northwest Victoria, Australia

Select Harvests completes $129 mln purchase of Piangil Almond Orchard

Select Harvest has completed its $129 million purchase of the Piangil Almond Orchard in northwest Victoria. The Australian almond grower signed the deal with United Almonds, Bright Light Agribusiness and Lake Lucas Almonds and announced the purchase in October.

The purchase will include 1566 hectares of almond orchards, of which 1177 hectares are mature planting and 389 hectares are immature.

"The acquisition of the Piangil Almond Orchard will increase Select Harvests’ planted area by 20 per cent from 7696 hectares to 9262 hectares and is expected to increase Select Harvests’ almond production by approximately 4600 tonnes in FY2021," Managing Director Paul Thompson said.

The November Almond Board California Report shows the demand is continuing to respond to the historically low almond prices, with shipments up 21.5 per cent year on year and record monthly shipments for the first four months of the season (August to November).

So far, the current crop is 60 per cent sold, which is up from this time last year's result of 53 per cent.

Source: themarketherald.com.au


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