Marquis Macadamias Reveals Uplifted 2024 Price Strategy and Shareholder Dividends

Following the strategic restructuring that led to Marquis Macadamias Australia parting ways with its South African partner, the prominent player in the Macadamia industry disclosed its 2024 Notional Price Offer at the end of March.

The 2024 Notional Price was set at $3.20/kg, considering a 33% Premium Kernel Recovery and 10% moisture content, marking a significant increase from the 2023 Notional Price of $1.80/kg (which included a $0.10/kg Shareholder NIS bonus). Despite this increase, Marquis acknowledges the price is still lower than what is required on a long-term basis to maintain a healthy industry.

The boost in the 2024 Notional Price has been attributed to the combined impact of the improved selling prices and the marginally weaker Australian dollar, which has bolstered the valuation of exports.

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“As part of our strategic efforts to elevate returns for our Shareholders, Marquis Macadamias is seising every opportunity, with a renewed focus on markets that appreciate the premium quality of Australian macadamias,” said CEO Ben Adams. “The company recognises that the pace of recovery in farm gate prices is slower than desired. Hence, it is committed to enhancing operational efficiencies and diversifying the product range to optimise Shareholder value.”, concludes Mr Adams.

Marquis has also introduced a “Variety Bonus” of $0.05/kg for growers delivering segregated A203 suitable for the Chinese NIS market, rewarding the extra effort in segregation through the harvest, processing, and transportation phases. This bonus is slated for end-of-season payment.

Mr. Adams shared insights on the sales dynamics, “Our Sales Team has reached a substantial increase in sales value for both Kernel and In-Shell products, although with slightly extended negotiations due to the revised pricing structure in 2024.”

During the 2024 Season Opening Sessions held in Lismore and Bundaberg at the end of March, Clayton Mattiazzi, Marquis Board Director and Chair, announced that a dividend of $1.00 per share will be paid to all Ordinary-class Shareholders in April.

“Our priority is to maximise returns to our Shareholders,” Mr Mattiazzi stated. “The $1.00 per share dividend reflects Marquis’ strong performance despite the adversities encountered during the 2023 Season. Thanks to increased sales and decreased inventory, the company finished the financial year in a strong working capital position, which permits the distribution of dividends to Shareholders.”

In light of an anticipated increase in the Australian crop, with forecasts suggesting an annual production of 60,000 tonnes, Marquis is expanding its intake this Season, including NIS from non-shareholders. For individuals interested in becoming a Marquis Shareholder or supplier, the company directs them to their official website for more information.

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