The value of Australia's almond exports hit a record-high in the 2024-25 financial year on the back of growing demand in China, according to industry data.

The latest annual report from agricultural research and development firm Hort Innovation in Australia showed that the value of Australia's almond exports rose to 1.3 billion Australian dollars ($925.6 million) in 2024-25, an increase of 23 percent from the previous year.

The increase defied a 5 percent year-on-year drop in Australia's almond production and a 2 percent fall in the export volume in 2024-25.

Hort Innovation said that Australia exported 140,503 tonnes of almonds in 2024-25.

The report did not include data on export destinations for 2024-25, but said that almond exports to China increased from 33,373 tonnes in 2022-23 to 76,132 tonnes in 2023-24.

Tim Jackson, chief executive officer of the Australian Almond Board, told the Australian Broadcasting Corporation that China accounts for 61 percent of Australia's almond exports.

He said that more and more Chinese buyers are trying to source Australian almonds because they can be imported with zero tariffs.

The Australian Almond Board in January said that the 2026 national almond crop estimate is 166,892 tonnes, which would mark an annual increase of 7 percent.