Traders told Mintec that this is due to a big oversupply in the market, as well as consumer budgets tightening amid rising inflation."Macadamias are viewed as a premium tree nut, and with consumer budgets tightening amid rising inflation, sales on macadamia products have taken a hit," a trader said., many customers have stock left and they are thus not buying in the same volumes as they normally would, and price is their main consideration.
Production in China, the largest buyer of South Africa’s in-shell macadamias, is also expected to rise significantly according to trade sources. This is primarily due to the recently-planted trees reaching maturity,"In theory, the price of your macadamias at something like Woolworths, that sells good quality nuts, should come down too," Alex Whyte, Green and Gold Macadamias’ sales manager, told Business Insider South Africa.
BISouthAfrica So basically this is saying that the sellers can sell them, and other goods, at cheaper prices! 🤔🤔
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