Investors in RFM’s Almond Funds (AF06, AF07 and AF08) were last week updated on the positive performance of the almond orchards in 2015 and favourable industry conditions for Australian growers.
RFM Investor Relations Manager, James Powell informed investors that the orchards, managed by RFM and located outside Hillston in the Riverina NSW, had entered a mature phase and were cash flow positive after a successful year, with very high yields and an equally strong almond price.
Investors also heard that the industry outlook for almonds was positive, driven by:
- Long term global almond demand continuing to increase while supply is constrained;
- A declining Australian Dollar, which is favourable for Australian growers as almonds are traded in US Dollars; and
- Difficult drought conditions for Californian growers, source of 80 per cent of the world’s almonds.
RFM National Manager of Almonds, Daryl Winter, provided investors on-farm information and outlined RFM’s drought risk mitigation strategies which were of interest to investors considering the situation in California.
Distributions to Growers in RFM Almond Fund 2006 (AF06), RFM Almond Fund 2007 (AF07) and RFM Almond Fund 2008 (AF08) will be paid by RFM in October 2015.
The 2015 crop outperformed original forecasts of 3.5 tonnes per hectare contained in the funds’ Product Disclosure Statements (PDS), with the orchards this year yielding an average of over 4 tonnes per hectare.
A copy of the investor presentation can be DOWNLOADED HERE.