Thanks to new research from AgriFutures Australia, growers entering the hazelnut industry have new information on a variety selection, crop management and budgeting for a profitable return on investment.
Enjoying rapid growth and in demand world-wide, hazelnuts are an attractive option for small-holders and long-term investors. Now, the recently published Hazelnuts in Australia: productivity and economic analysis for industry expansion report is assisting the local sector expand into new regions.
It seems there is significant room for expansion of the local industry, given Australia imports approximately 3,500 t of hazelnut product annually, primarily from Turkey. The report provides valuable information to assist investors make considered decisions before entering the industry, including economic analysis of production costs, timelines to profitability based on varying yields, and the impact of interest payments on finance.
AgriFutures emerging industries senior manager, Dr Olivia Reynolds said more research is needed to better understand the different varietal responses to environment and climatic conditions that were observed during the trial. “The results from the variety trials show that in the Riverina three tonnes per hectare is achievable, and depending on price, labour costs and interest on finance, it is possible for new orchards to reach breakeven within seven to 10 years,” said Reynolds.
Source: foodanddrinkbusiness.com.au