Select Harvests (ASX:SHV) has announced that its 2023 almond crop volume is expected to be lower than forecast, following poor blooms and unusually cold and wet weather conditions.
The company says the volume of the Nonpareil almond variety is potentially 25-35% lower than initially forecast, with no current volume indicators for the pollinator almond varieties.
It also says, however, the financial impact is expected to be somewhat offset by an increase in global almond prices.
Select Harvest's Managing Director David Surveyor highlighted that global almond pricing is increasing, with strong recent shipment reports from the US and Australian markets.