A change in global prices has led to a significant shift in the agricultural landscape of Australia's lower Murray region. As grape prices fell in 2022 due to a worldwide surplus, many farmers decided to replace their vineyards with almond plantations. This transition has transformed the lower Murray into the second-largest almond-producing region globally, outside California, generating billions in revenue. Almonds are now Australia's most profitable horticultural export, with over $750 million in export revenue in 2022-23.
However, this lucrative switch comes with a drawback. Almonds are the most water-intensive crop in the lower Murray, requiring more water than any other irrigated crop in the region.
Despite these concerns, the almond industry continues to grow, driven primarily by large corporations. The Almond Board of Australia expects the farmgate value of almonds to surpass $1.3 billion by 2025.
Source: abc.net.au