Select Harvests forecasts 16-19% increase in 2026 almond crop

Select Harvests has narrowed its 2026 almond crop guidance to between 28,800 and 29,600 metric tonnes, representing a 16% to 19% increase over the previous year. This growth comes despite unusually wet harvest conditions in late February and early March, with some regions receiving over 300% of average rainfall.

The wet weather and other non-recurring factors, including inflationary pressures and Middle East conflict, have increased one-off operational costs to an estimated $13.9 million. To manage volumes and quality, the company has invested approximately $30 million in new equipment, including a pre-cleaner, dryer, and kernel recovery line.

Global almond prices have reached a 10-year high in U.S. dollar terms, driven by structural supply pressures in California. As the provider of approximately 77% of the global supply, California is seeing a decline in bearing acreage for the first time since 1995, a trend expected to continue for several years. Select Harvests reports that the almond pool price has risen to A$10.26 per kilogram, with 81% of the 2026 crop already sold or contracted.