Select Harvests Limited has completed processing of its 2025 almond crop through the Carina West Processing Facility, with a final size of 24,700 metric tons. This is within the forecast range, but below the midpoint.
Almond prices have strengthened since the USDA's July 2025 California Almond Objective Measurement Report, which projected a U.S. crop of 3 billion pounds. Prices initially fell but are now moving back toward forecast levels. The August 2025 Almond Board of California Position Report indicated a smaller marketable crop than expected, with carry-in stocks at 483 million pounds (down from 502 million in 2024) and crop receipts at 259 million pounds (compared with 290 million in 2024).
© Select Harvests
Select Harvests has completed its in-shell sales, with some kernels still to be sold. Current pricing is around 1.5 per cent below the company's mid-year forecast, with an average crop price of A$10.14–A$10.20/kg (US$6.55–6.60/kg).
Industry expectations are that the U.S. crop will reach around 2.8 billion pounds, which could support prices over the next 12 months. The next Almond Board of California report is due on 12 October 2025. Market demand and structural changes, including reduced new plantings, orchard removals, and water constraints, are expected to continue influencing prices.
Financial position
The company reported net debt reduced to A$80 million (US$51.7 million) and gearing at 15 per cent, which it said reflects a 50 per cent year-on-year reduction. Operational cost control has kept production costs flat compared with the previous year.
2026 bloom update
The 2026 crop bloom has now finished, with overall orchard health described as positive. Bloom began 7–10 days later than in recent years and occurred in a more compact timeframe. Strength was reported as generally solid across orchards, though New South Wales again lagged behind other regions due to ongoing wet-year effects. Improvements were recorded at Mountview and Belvedere orchards.
No frost damage has been reported to date, though the risk remains until the end of October. The company has introduced increased fertiliser programs at selected orchards to support crop development in the current and following season.
© Select HarvestsFor more information:
David Surveyor
Select Harvests
Tel: +61 3 9474 3509
Email: [email protected]
www.selectharvests.com.au
