The production of nuts in Australia has shown considerable variation over the past decade. In 2023, the production stood at 239.00 thousand metric tons, marking a slight year-on-year increase of 0.84%. Overall, the annual growth rate over the last five years has been modest, with a compound annual growth rate (CAGR) of 1.49%. The historical data demonstrates significant fluctuations, including notable growth periods in 2016 (10.5%) and 2017 (8.6%), and downturns such as in 2018 (-7.5%) and 2020 (-3.76%). The future forecast indicates a steady yet modest increase with a forecasted CAGR of 0.82%, projecting production to reach 251.89 thousand metric tons by 2028.
Future trends to watch for include potential impacts of climate change on crop yields, technological advancements in agricultural practices, and changing global demand for nuts. Monitoring these factors will be crucial for predicting more accurate long-term production trends in Australia.
