Revised FY18 estimated Grower position

In August 2017, Rural Funds Management Limited (RFM) as responsible entity of the RFM Almond Fund 2006 (AF06), RFM Almond Fund 2007 (AF07) and RFM Almond Fund 2008 (AF08) provided Growers and Advisers 2017 crop estimates as part of the annual webinar update.

Final crop yields have now been received from the processor and are lower than previously disclosed.  This reduction was primarily due to lower crack out ratio (the ratio of shell weight to kernel weight) and higher insect damage than forecast.

The reduction in crop yield will impact the FY18 distribution, although RFM expects that Growers in all Funds will still be cash flow positive, including the repayment of the carried forward FY17 shortfall.  Details are summarised below:

AF06 AF07 AF08
Estimated yield  – 2017 crop 3.74 3.92 3.77
Actual yield – 2017 crop 3.68 3.76 3.64
Revised estimated FY18 Grower position after GST refund and repayment of shortfall $97.28 $391.08 $365.25