SELECT Harvests Limited has released its 2025 business update, reporting a final almond crop estimate of 24,700 tonnes, slightly below the midpoint of its earlier forecast.
The company says the crop has now been fully processed at its Carina West facility, near Robinvale.
Despite a lower-than-expected crop size, the company’s average almond price is tracking at $10.14 to $10.20 per kilogram, marginally below the midyear forecast.
Global almond prices are recovering after a dip earlier in the year, with analysts pointing to a smaller marketable crop in the United States and ongoing structural changes, including reduced new plantings and older orchard removals, as positive for prices in the coming 12 months.
Select Harvests has also highlighted its strong financial position.
Net debt has been reduced to $80 million, with gearing at 15 per cent, representing a 50 per cent reduction from the previous year.
Operational costs have been tightly managed, with production costs held flat, despite ongoing investment in horticultural programs.
Looking ahead, the company’s 2026 almond bloom has been completed with positive results.
Bloom began slightly later than in previous seasons but was generally strong across most orchards.
While New South Wales experienced weaker bloom due to the effects of consecutive wet years, improvements were recorded at the Mountview and Belvedere orchards.
No frost damage has been recorded, and the company is implementing an increased fertiliser program to support crop development during the next two years.
Managing director and chief executive David Surveyor said agriculture remained inherently variable.
He noted that while this year’s crop was below expectations, the company has become more efficient and resilient.
“We have been pleased to see the recovery in almond prices as the size of the US crop becomes clearer,” he said.
“The macro-economic environment for almonds remains positive and is expected to continue in coming years.
“We remain committed to growing, processing and selling as efficiently as possible for the benefit of our shareholders.”
