Agriculture
4 March, 2026
Olive oil season tipped to finish a sell out
AUSTRALIAN sales remained on track to sell all of the olive oil produced from the the 2025 harvest, Cobram Estate has told shareholders in a half-year update.
The company that has a major grove and processing plant at Boort says its expects full-year Australian packaged goods sales to be broadly in line with last year’s record sales results.
“Sales for the second half in the USA will benefit from the increased supply of Californian olive oil from the 2026 harvest,” said chairman Ross McGavin.
“The company anticipates strong USA packaged goods sales over the remainder of this financial year.
“The 2026 Australian harvest is expected to commence in April and be completed by June 30.
“The 2026 crop is an ‘off year’ and projected to be lower than the 2025 harvest, which was a higher yielding year for our Australian groves. However, given the condition of the groves, favourable seasonal conditions to date and their increasing maturity, the crop is forecast to be only moderately lower than (last financial year), subject to the normal risks associated with agricultural production.”
Mr McGavin said earnings before tax were expected to be lower this year.
The shareholder report said the group’s half-year result - a loss of $11.9 million - does not include any profit relating to the 2026 Australian crop hanging on the trees. “This will be recorded at June 30 in the full year results and is expected to have a substantial positive impact on the Group’s full year results,” shareholders were told.
“Bulk oil sales scheduled for the second half will boost full-year sales in both Australia and the USA.”
In the first half, Cobram Estate spent $67.85 million on USA land acquisitions, grove development and capital projects
Of the $67.85 million, the majority was invested in capital projects in the USA, in line with its growth strategy, “that are expected to deliver long-term returns to the group”.
In Australia capital expenditure was for ongoing grove replanting programs on existing land. Cobram Estate said its capital expenditure outlook remained centered on expanding its California groves through further land acquisitions and continued planting.
The company’s Australian sales for the first half were $55.4 milion up 9.3 per cent compared with the first half of the previous year USA sales jumped 0.8 per cent to $19.2 million.
The company said Significantly higher water prices in Australia had been a key driver of lower operating cash flow for the first six months.
Read More: Berrimal, Boort