From the Wall Street Journal:
https://www.wsj.com/articles/health-nuts-pensions-and-endowments-scoop-up-almonds-1521374401
Excerpts:
"Large investors are piling into established orchards and planting new trees, particularly in south eastern Australia, whose Mediterranean-like climate and farms’ ability to secure large quantities of fresh water make it one of few regions in the world that are conducive to growing almonds commercially. The country’s almond output is forecast to rise 9% this year, according to the USDA.
"In Australia, nuts generate gross revenue of 8,097 to 12,146 Australian dollars (US$6,314 to US$9,471) per acre, roughly 40 times that of grains for the same area, according to the Australian Nut Industry Council.
"Other large investors are looking for ways to invest: Last fall, United Arab Emirates’ sovereign-wealth fund Mubadala Investment Co. PJSC made a $340 million bid for Select Harvests Ltd. , one of Australia largest almond producers, according to a securities filing. Select’s board rejected the offer, saying it “significantly undervalued the company,” which remains listed on the Australian stock exchange.
This can only lift the share price.
Ash
Add to My Watchlist
What is My Watchlist?
