Macadamia farms to replace cane after historic $12.1M sale
THE HISTORIC $12.1 million sale of five per cent of the region's cane crops to a macadamia producer could herald in a booming new agriculture industry for the Fraser Coast.
Multiple cane farms across 623 ha of land in Maryborough were amalgamated for the multi-million dollar deal to an undisclosed buyer who is said to be "one of Australia's leading macadamia producers".
Tony Nioa and Trenton Hindman brokered the deal and said the new owner will replace the crops of sugar cane with macadamia trees.
Mr Nioa from PRD Nationwide, based in Maryborough, said there could be more tree plant farms on the way with prices for macadamia and avocados on the rise.
About 40 per cent of Australian macadamia sales are in the Asia-Pacific region, with growing international markets in Taiwan, Korea, and Japan, according to the Australian Macadamia Society.
"There were other parties that were interested in the purchase of the farm, who were unsuccessful, who would be now looking for farmland in the area," Mr Nioa said.
"Tree crops are currently enjoying very good prices."
He said he was also seeing younger buyers coming into the market, and an increase in purchases.
"Value on some agriculture land locally has risen 30-40 per cent in the last two years," Mr Nioa said.
"I think it is a very exciting time for agriculture."
The $12.1 million farm is described by Mr Hindman - from Colliers International - to have "ideal topography and scale for conversion to the mechanical harvesting of macadamias".
Last year Mr Hindman also sold a 124 ha cane farm in Bundaberg for $2 million to an Asian-based macadamia exporter.
Macadamia prices have almost doubled in the last five years in Australia.