Almond assets

RFF owns four almond orchard properties, three located near Hillston, New South Wales (NSW), and the fourth located near Darlington Point, NSW.

The 4,914 hectare orchard area includes  mature trees, newly planted trees and areas under development:

Property Location Almond orchard planted (ha) Almond orchard under development (ha) Lessee(s) Water entitlements Year(s) planted
Yilgah Hillston, NSW 1,006 SHV
(1,006 ha)
15,090 ML
groundwater entitlements
2007 & 2008
Mooral Hillston, NSW 808 SHV
(215 ha)
RFM Almond Funds
(551 ha)
RFM
(42 ha)
12,120 ML
groundwater entitlements
2006 & 2007
Tocabil Hillston, NSW 600 Olam Orchards Australia Ltd
(600 ha)
12 ML / ha  per annum once the development is completed 2015 & 2016
Kerarbury Darlington Point, NSW  1,282 1,218 Olam Orchards Australia Ltd
(2,500 ha)
11.2 ML / ha per annum once the development is completed 2016, 2017 & 2018
Total 4,914 ha

Hillston is located 110 kilometres north-west of Griffith, NSW, and Darlington Point is located 35 kilometres south of Griffith, NSW.

See below for further details on the specific properties:

Yilgah

Yilgah is located 20 km north of Hillston and is 6,400 ha in size. Yilgah consists of 1,006 ha of almond orchards planted in 2007 and 2008. The almond plantings, associated infrastructure and water entitlements are leased entirely to Select Harvests Ltd under a 20 year lease arrangement. The lease commenced in May 2010 and expires in May 2030.

The property is supported by 15,090 ML of groundwater entitlements and irrigation infrastructure that enables the delivery of water. A further 959 ha of land at Yilgah has been developed for flood irrigation. The irrigation development includes a central holding dam and an integrated channel system to supply and recycle water.

The remaining land at Yilgah comprises lightly timbered creek frontage and open plains suited to grazing. Parts of Yilgah are often licensed on a short term basis for cropping purposes depending upon seasonal conditions.

Mooral

Mooral is located 25 km south west of Hillston and is 3,841 ha in size. Mooral consists of 808 ha of almond orchards planted in 2006 and 2007. Of this, 551 ha are leased to three RFM Almond Funds, 215 ha are leased to Select Harvests Ltd and 42 ha are licensed to RFM.

The remaining 3,033 ha of land at Mooral comprises lightly timbered river frontage, grazing country and 440 ha of irrigated land. The irrigated land is licensed to counterparts depending on seasonal conditions.

The property is supported by 12,120 ML of groundwater entitlements, with a supplementary groundwater entitlement of 3,223 ML.

Tocabil

Tocabil is located 30km north east of Hillston and is 6,900 ha in size. Tocabil consists of 600 ha of almond orchards planted in 2015 and 2016. The property is leased to Olam Australia Pty Ltd until 2037.

The remaining land at Tocabil comprises of lightly timbered river frontage, grazing country and dryland cropping country. Tocabil will be supported by 12 ML/ha  per annum once the development is completed.

Kerarbury

Kerarbury refers to two properties, “Kerarbury” and “Kamelda”, located in Darlington Point, New South Wales, 35km south of Griffith and 140km south of RFF’s existing almond orchards. The properties were purchased by RFF in October 2015 and are leased to Olam Orchards Australia Pty Ltd until 2038.

The property area totals 7,756 ha, with 2,500 ha of almond orchards and supporting infrastructure having been developed.

Kerarbury has three types of water access; Groundwater (Lower Murrumbidgee Groundwater aquifer), Murrumbidgee River and the Kerarbury Channel Scheme and is supported by 11.2 ML / ha per annum.

^Lease expiries weighted by forecast FY19 rental income