Macadamia nut exports are booming in Zimbabwe. The latest data from the Zimbabwe National Statistics Agency (ZimStats) indicates that export earnings from inshell macadamia nuts have increased from US$3.42 million to US$4.15 million in 2024. In terms of volume, macadamia shipments increased by 59% to 4,495,580 kilograms from 2,829,040 kilograms previously. However, the average price per kilogram fell by 24% from US$1.21 to US$0.92.
Despite the increase in local market prices, these products remain below the break-even point. “This season, the price of macadamia nuts has increased slightly by about US$0.50 from last year’s very low price of between US$0.80 and US$ 1.20 per kilogram. While this increase is welcome, it is still below the break-even point,” said Alex Mutasa, Chairman of the Macadamia Producers Association of Zimbabwe (MPAZ). “While we have figures from the small-scale sector, we are still waiting for data from the companies to get the full national statistics,” he added.
Meanwhile, Ariston Holdings Limited, a diversified agricultural group, announced in its third quarter report ending 30 June 2024 that macadamia nut sales increased by 93 per cent from 606 tonnes to 1,171 tonnes. The increase signals a recovery in demand after global volumes fell during the Covid-19 pandemic. The company’s revenue for the period rose 0.5% compared to the same period last year. This was driven by improved performance in the macadamia nut sector, the report said.
Macadamia traders have urged farmers to improve the quality of their produce to take advantage of the expected price hike in 2025. The recommendation was made at a meeting between traders, the Agricultural Marketing Authority (AMA) and other stakeholders in Chipinge, Manicaland province, Zimbabwe. Prices of inshell macadamia nuts were under pressure last year due to oversupply in Europe and the United States. This trend is expected to continue in 2024 before a recovery is expected in 2025, according to traders.
The Horticultural Development Council’s (HDC) June 2023 seasonal report noted that macadamia nut prices used to be higher than tea prices. However, they are now almost equivalent. This pressure on prices has accelerated value-added initiatives, including Rosywood commencing construction of a cracking plant. The HDC’s September 2023 seasonal report concluded that macadamia nut prices in 2023 were the lowest in 20 years, but a recovery in demand is expected next season.
