According to the latest estimates from the Southern African Macadamia Growers' Association (SAMAC), South African Macadamia shell fruit production in 2022 reached over 70,139 tonnes (22,444 tonnes in kernel terms). Production is expected to hit another record high in 2023. Compared to other nut categories, macadamia nut exports had a strong year, with 21,555 tons of nuts exported, the second highest on record. Most of the macadamias are exported to China, where high-income consumers continue to favor high-quality nuts despite rising living costs.

Other nut-producing countries face an oversupply of nuts and consequent storage problems because of falling global demand. Although macadamia is one of the most expensive commercially available nuts, demand for macadamia remains strong compared to other nuts. In terms of kernel prices, macadamias typically retail for 3-4 times the price of almonds. China's macadamia consumers are typically high-income households, less affected by rising living costs and more resilient demand for macadamia. Demand in the US and Europe, by contrast, is more susceptible to price fluctuations.

The biggest export market for macadamias over the past decade has been the US or China, with Europe in third place. But China held on to the top spot with a large market share gap in 2022, accounting for 40 per cent of South Africa's macadamia exports, compared with 28 per cent the previous year. South African exports to China are growing despite an increase in domestic production of macadamia nut from 32,500 tonnes in 2020/22 to 62,500 tonnes in 2020/23. The U.S. market share fell from 31 percent to 29 percent, while Europe's fell from 22 percent to 19 percent. The South African macadamia industry is likely to continue targeting high-income consumers in China through 2023 due to falling demand in Europe and the United States.

According to Chinese customs statistics, in 2022, China imported 7,521,505 kilograms of South African macadamia shell fruit, worth about 220 million yuan, and 268,812 kilograms of macadamia nut, worth about 27.264 million Yuan.