In the case of almonds, the value produced in 2022-23 was just over $94 million, 42% lower year-on-year, a consequence of a combination of low prices and yields. The Californian almond price reached a low in 2022 of US$1.40 per pound and while recovering slightly in 2023 to US$1.65 per pound, remained lower than the 5-year average of US$2.21 per pound. ¹⁴² At the same time production was 27% lower year-on-year to 18.6 thousand tonnes (KWE) in NSW, impacted by cool and wet conditions at critical times. These challenging conditions were also reported to have resulted in lower kernel weights. ¹²⁴ NSW produced 29% of national production in 2022-23 from almost 12,800 ha of bearing crop. ¹³ More recently, the 2024 Australian harvest has benefited from dry harvesting conditions in 2024 and is anticipated to return to long terms forecasts and improved quality. ³⁵

The value of macadamia production in 2022-23 was down 42% in 2022-23 from the prior year. ⁸⁶ The Australian macadamia benchmark price declined 46% year-on-year in 2023 to $1.88 per kilogram ^ap , and down 72% since the record high price achieved in 2020. ²² . Production was also substantially down in 2022-23 reflecting the wet conditions that impacted growers through the year. Low prices typically result in reduced crop inputs and less intense orchard management practices such as pruning and hedging with subsequent impacts on tree productivity. ²³ ). The recent smaller crop and lower local inventories are expected to support pricing for macadamia for the 2023-24 year but remain well below the five-year average prior to 2023. ¹¹⁶

More recently exports of nuts has been mixed. Exports of almonds have continued to increase with 2023-24 exports valued at $36 million, 61% higher than in 2022-23. India and China were the major markets accounting for 51% and 42% of exports respectively. Following an 80% increase in the value of exports to India in 2023-24, India now represents the major market in value terms at just over $18 million. ⁷⁹ The Australia India trade agreement has resulted in a 50% reduction in import tariffs for both in-shell and kernel and supported increased sales of almonds improving diversification for the Australian industry. ¹

Macadamia exports was lower with the value of 2023-24 exports totalling $21 million, 49% lower than the previous year. Exports to China decreased 75% in value terms to $4.6 million while exports to Japan also declined 46% to $6.7 million with Japan representing almost a third of macadamia exports by value. Total export volumes were 38% lower year-on-year to total just over 1,500 tonnes in 2023-24. In volume terms China received the largest share, 506 tonnes or a third of total export volumes, reflecting the lower unit value of macadamia to this market. ⁷⁹ More subdued demand for macadamia has been linked to more cautious consumers given recent higher costs of living concerns. ¹¹⁶

Nurseries

The gross value of nursery production in 2022-23 was $833.5 million from 519 businesses. ¹³ Nationally, retail sales remained the largest market for nursery businesses accounting for 42% of total sales in 2022-23, while wholesale nurseries accounted for 22% and landscape and primary industry sectors representing 14 % and 11% respectively. ‘Big box’ retailers continue to grow as a major market for growers with a third of all production nurseries selling plants to big box retailers in 2022-23, equivalent to almost a quarter of total production nursery sales. ⁷⁰

Perennials, trees and shrubs category represented the largest share of total national industry sales in 2022-23 at 45%. This includes tree sales which accounted for an estimated 17% of national industry nursey sales. ⁷⁰

Turf

Turf production was valued at $88.4 million in 2022-23. ⁸⁶ Turf production for 2022-23 was estimated at 8.45 million square metres 14% lower than the previous year. At the same time the average price of turf by species in 2022-23 was mixed, with species including Buffalo and Kikuyu firmer by 7% and 12% respectively per square metre, while average couch prices were 6 percent lower on the previous year. ¹³⁷ A number of factors contributed to the reduced production including flooding during 2022-23, while on the demand side housing commencements have slowed through 2023 and into 2024, likely dampening demand for turf products. ¹⁴

More recently production of turf was impacted again by some flooding in the Hawkesbury region during April 2024. Although not as substantial as flooding in recent years, the industry is yet to fully recover from prior events. ¹³⁸

Floriculture

The value of cut flower production in NSW in 2022-23 was estimated at $38.2 million, unchanged from the prior year and represented 12% of national production by value. The majority of production by value, $33.8 million, was grown conventionally across 105 hectares, with an additional 3 ha under glasshouses and 10 hectares utilising polyhouses and tunnels. ⁸⁶

Exports remain a niche market totalling just under $1 million in 2023-24, compared with imports of floriculture products which were valued at $29 million. The value of NSW imports were 23% lower year-on-year, while national imports were 6% lower. Imported flowers tend to be lower value and include high volume supermarkets sales. ⁷⁹ The discretionary nature of cut flower purchases mean that demand is likely to be impacted by economic conditions that see consumers limit expenditure.