A KOREAN Airlines executive’s tarmac tantrum is spurring a surge of sales in the Asian nut market, with Australian macadamias set to reap the biggest rewards.
In the widely publicised "nut rage" incidentCho Hyun-ah, the daughter of the company's chairman and then head of cabin service at Korean Air, had a December 5 flight from New York turned around mid-air and a flight attendant ordered off the plane after she was served her macadamia nuts in a bag instead of on a plate.
Wholesalers in Korea reported business has boomed on the back of the publicity from the incident.
Contracts have been brought forward, a massive boost to Aussie growers. More than 80 per cent of Korea's maca imports are from Australia, the birthplace of the nut.
The upshot is that NSW and Queensland growers should expect solid demand and rising prices.
The New York Times reported macadamias have become a household name in South Korea and sales are booming - macas now represent 50pc of the nut market, where previously they made up 5pc.
Australian Macadamia Society chief executive Jolyon Burnett said the reported surge in demand has already boosted the Australian market. Local processing companies reported increased inquiries from Korea.
“The (nut rage) story raised awareness of macadamias, increased demand in Korea and we’re predicting this will lead to a significant increase in sales in the coming months,” Mr Burnett said.
He was swift to point out maca's silver service status.
“Australian macadamias are the world’s finest nut, an exquisite tasting, premium product that deserve all the attention in the world.
“Of course macadamias should be served on a silver platter!”
Ironically, the incident happened the same week the Korean Free Trade Agreement (FTA) came into play, which will see the tariff on maca exports into Korea reduced from 30pc to 18pc by January 1 and tariff-free by January 2018.
Combined with FTA announcements for China and Japan, the situation has cemented the fast-growing Asian demand for macadamias, with maca industry leaders now saying the challenge in Australia will be lifting production to meet supply.
The 2014 crop came in at a higher tonnage than predicted, courtesy of favourable seasonal conditions, improved on-farm practices and an eagerness by growers to do additional pick-ups given solid prices.
And the stars seemed to be aligned for an even bigger 2015 crop, with flowering and nut set conditions ideal and current rain on the NSW North Coast set to boost orchards.
Shan Goodwin
Journalist for The Land on the North Coast.
Journalist for The Land on the North Coast.
