Prospects for Australian emerging industries
Emerging industries play an important role in the Australian agricultural landscape, contributing to the national economy and helping meet changing global demand. This prospectus is...
Published: 8 Jun 2022
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The pine nut is the seed of the pine tree, a coniferous resinous tree of the Pinaceae family, with premium pine nuts originating from the Pinus pinea species. Australia only has two current commercial-scale Pinus pinea growers, with one of the orchards being approximately 370 hectares. The pine nut market is expected to grow at a compound annual growth rate of 8% from 2020-24, which presents a significant opportunity for Australia. With the wholesale price of $80/kg and a conservative estimate of 100 kg per hectare, every 1,000 hectares of pine plantations could amount to a gross value of production (GVP) of $8 million per annum. The development of a Strategic RD&E Plan for an Australian pine nut industry is a crucial first step for the industry to grow over the next decade. The Plan includes a communications and extension strategy, and highlights five research and development priorities for the industry to implement.