1. Macadamias and Opals

2. Opal

3. Select Harvests Ltd – share price
16.00
14.00
12.00
10.00
8.00
6.00
4.00
2.00
0.00
Source: Capital IQ

4. Select Harvests Ltd – share price
16.00
Orchards (acres)
Owned & Leased: 2,400 Orchards (acres)
14.00 Managed: 18,100 Owned & Leased: 12,600
Managed: 4,400
12.00
10.00
Orchards (acres)
Owned & Leased: 2,400
8.00 Managed: 11,500
6.00
Orchards (acres)
4.00 Owned & Leased: 2,100
Orchards (acres)
2.00
Owned & Leased: 3,400
Managed: 35,300
0.00
Source: Capital IQ

5. USD per metric tonne
$50.00
$150.00
$250.00
$100.00
$200.00
$300.00
Aug-02
Jan-03
Jun-03
Nov-03
Apr-04
Sep-04
Feb-05
Jul-05
Dec-05
May-06
Oct-06
Mar-07
Aug-07
Jan-08
Barley price - $US per metric tonne
Jun-08
Nov-08
Apr-09
Sep-09
Feb-10
Jul-10
Dec-10
May-11
Oct-11
Mar-12
Aug-12
Source: Index Mundi

6. USD per metric tonne
$500.00
$900.00
$1,000.00
$1,100.00
$100.00
$200.00
$300.00
$400.00
$600.00
$700.00
$800.00
Aug-02
Jan-03
Jun-03
Nov-03
Apr-04
Sep-04
Feb-05
Jul-05
Dec-05
May-06
Oct-06
Mar-07
Aug-07
Rice price - $US per metric tonne
Jan-08
Jun-08
Nov-08
Apr-09
Sep-09
Feb-10
Jul-10
Dec-10
May-11
Oct-11
Mar-12
Aug-12
Source: Index Mundi

7. USD per metric tonne
0
5
10
15
20
25
30
35
Aug-02
Jan-03
Jun-03
Nov-03
Apr-04
Sep-04
Feb-05
Jul-05
Dec-05
May-06
Oct-06
Mar-07
Aug-07
Jan-08
Sugar price - $US per metric tonne
Jun-08
Nov-08
Apr-09
Sep-09
Feb-10
Jul-10
Dec-10
May-11
Oct-11
Mar-12
Aug-12
Source: Index Mundi

8. USD per metric tonne
100
200
400
500
600
300
Aug-02
Jan-03
Jun-03
Nov-03
Apr-04
Sep-04
Feb-05
Jul-05
Dec-05
May-06
Oct-06
Mar-07
Aug-07
Jan-08
Jun-08
Nov-08
Soybeans price - $US per metric tonne
Apr-09
Sep-09
Feb-10
Jul-10
Dec-10
May-11
Oct-11
Mar-12
Aug-12
Source: Index Mundi

9. USD per metric tonne
110
130
150
170
190
50
70
90
Aug-02
Jan-03
Jun-03
Nov-03
Apr-04
Sep-04
Feb-05
Jul-05
Dec-05
May-06
Oct-06
Mar-07
Aug-07
Jan-08
Beef price - $US per metric tonne
Jun-08
Nov-08
Apr-09
Sep-09
Feb-10
Jul-10
Dec-10
May-11
Oct-11
Mar-12
Aug-12
Source: Index Mundi

10. USD per metric tonne
100
150
200
250
300
350
400
450
Aug-02
Jan-03
Jun-03
Nov-03
Apr-04
Sep-04
Feb-05
Jul-05
Dec-05
May-06
Oct-06
Mar-07
Aug-07
Jan-08
Jun-08
Wheat price - $US per metric tonne
Nov-08
Apr-09
Sep-09
Feb-10
Jul-10
Dec-10
May-11
Oct-11
Mar-12
Aug-12
Source: Index Mundi

11. USD per metric tonne
120
170
220
270
320
20
70
Aug-02
Jan-03
Jun-03
Nov-03
Apr-04
Sep-04
Feb-05
Jul-05
Dec-05
May-06
Oct-06
Mar-07
Aug-07
Jan-08
Corn price - $US per metric tonne
Jun-08
Nov-08
Apr-09
Sep-09
Feb-10
Jul-10
Dec-10
May-11
Oct-11
Mar-12
Aug-12
Source: Index Mundi

12. Shares of urban household expenditure on food: all
households (%)
Bangladesh
Cambodia
Indonesia
Thailand
Vietnam
Pakistan
Uganda
Kenya
India
Expenditure item
Purchased food 51 53 41 53 39 42 35 37 41
Nonpurchased food 3.9 6.6 0.8 3.2 6.9 2 4.5 6.5 2.6
Total food 55 60 42 56 46 44 40 44 44
Source: World Bank

13. Shares of rural household expenditure on food: all
households (%)
Bangladesh
Cambodia
Indonesia
Thailand
Vietnam
Pakistan
Uganda
Kenya
India
Expenditure item
Purchased food 49 52 49 55 35 42 35 27 38
Nonpurchased food 15 20 11 11 25 14 11 29 16
Total food 64 72 60 66 60 56 46 56 54
Source: World Bank

14. Select Harvests Ltd – share price
16.00
Orchards (acres)
Owned & Leased: 2,400 Orchards (acres)
14.00 Managed: 18,100 Owned & Leased: 12,600
Managed: 4,400
12.00
10.00
Orchards (acres)
Owned & Leased: 2,400
8.00 Managed: 11,500
6.00
Orchards (acres)
4.00 Owned & Leased: 2,100
Orchards (acres)
2.00
Owned & Leased: 3,400
Managed: 35,300
0.00
Source: Capital IQ

15. Industry investment is now likely to come from
Sovereign Wealth Funds

16. Industry investment is now likely to come from
Endowment Funds and Agri Focussed Investors

17. Industry investment is now likely to come from
Private Equity

18. Australian plantings
18,000 6,000
16,000
5,000
14,000
Area under plantings (Ha)
12,000 4,000
Plantings (000s trees)
10,000
3,000
8,000
6,000 2,000
4,000
1,000
2,000
- -
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Source: Australian Macadamia Society orchards census

19. Global macadamia kernel production CAGR 2003-
2012
12% 11%
10%
Growth / decline in production volume
10% 9%
8%
6.40%
6% 5%
4.50%
4%
2%
2%
0% 0% NA NA NA
0%
-2%
-3%
-4%
Source: International Dried Fruit & Nut Association Statistics Database

20. Opal

21. Normalised Google Searches
10
20
30
40
50
60
70
90
80
0
Jan-04
May-04
Sep-04
Jan-05
May-05
Sep-05
Almonds
Jan-06
Macadamias
May-06
Google searches:
Sep-06
Jan-07
May-07
Sep-07
Jan-08
May-08
Sep-08
Jan-09
May-09
Sep-09
Jan-10
almonds and macadamias 2004 - 2012
May-10
Sep-10
Jan-11
May-11
Sep-11
Source: Google Insights
Jan-12
May-12
Sep-12

22. Most Almond Google searches are from:
Source: Google Insights

23. Most Macadamia Google searches are from:
Source: Google Insights

24. Almonds and macadamia searches – developed
countries (Macadamias in red)
Japan
Italy
United Kingdom
Normalised Google Searches
Spain
France
Germany
Canada
United States
New Zealand
Australia
0 20 40 60 80 100
Source: Google Insights

25. Almonds and macadamia searches – emerging
countries (Macadamias in red)
China
Russia
Normalised Google Searches
Argentina
India
Malaysia
Philippines
Brazil
0 10 20 30 40 50
Source: Google Insights

26. Macadamias and Opals