Australian leading walnut producer Webster Limited yesterday announced that a ‘nut set issue’ will likely impact the company’s 2016 crop yield.
Although Webster says the impact on the 2016 yield is still being assessed, preliminary reviews suggest that there will be a 20 per cent drop on the 2015 yield.
Webster says a problem arose during the walnut pollination period.
Despite the hiccup with its 2016 walnut crops, growth and expansion appears to be on the horizon for Webster. In 2014 the company acquired 40 000 hectares of land spread across NSW. This acquisition of land has however impacted on short-term net profit with Webster reporting AUD $8.6 million profit before tax for the 2015 financial year, down from 2014’s $11.9 million. Webster’s end of financial year report also highlighted that walnut prices have not risen in the way of almond prices.
Webster’s has reported to the Australian Securities Exchange (ASX) that its net profit before tax for the financial year ending the 30 June 2016 should be similar to its 2015 results. This is however dependent on Webster’s other investments which include water and cotton crops.
Webster is a large producer of walnuts in Australia .The company has been in operation since 1831, making it the Australia’s fourth oldest company. Webster’s recently sold its large Tasmanian based onion business.
Article of interest: Australia’s amazing nut industries are global players.
