Australia's macadamia industry has bounced back after six difficult years, with booming Asian demand pushing nut prices to record highs.

While this year's crop is estimated to reach 40,000 tonnes, it will not touch the sides of Asia's growing appetite for macadamia nuts.

"There are many markets that haven't even been tapped," New South Wales grower Tamara Williams said.

"We're not able to get macadamia nuts into India yet because there's just not enough supply to satisfy that level of demand."

Australian Macadamia Society (AMS) chief executive Jolyon Burnett says the biggest growth has been in Asia.

"Not just in China where everybody's had good growth, but in markets like Korea and Taiwan where they're beginning to associate macadamias with health, beauty and wellbeing," she said.

Hinkler Park is the world's biggest macadamia grower, with farms in South Africa and Australia.

It is owned by the Zadro family, and has a 50 per cent share in Queensland processor Pacific Gold Macadamias in Bundaberg.

"The Chinese nut-in-shell market, which has just opened up, has awoken a sleeping giant," Hinkler Park's Peter Zadro said.

New grading and bagging equipment was installed over the summer to meet Chinese demand for nuts in shell.

The Zadro family is planting more trees in Bundaberg and is looking to expand Hinkler Park's footprint further north to Emerald.

'Huge room for growth': AMS

Chefs praise versatile nut Several of Australia's best known chefs were invited to the macadamia's 40th birthday party at the Opera House. The three-course menu showed off the nut's versatility and included a macadamia macaroon 'tree' from superstar pastry chef Adriano Zumbo. Adriano Zumbo: I see it as a luxury. You think "macadamia, wow!". When you eat one it's pretty special. Kylie Kwong: Macadamia nuts will be in my kitchen and on my menus forever. It's very important, we need to celebrate this beautiful native ingredient. I sprinkle roasted organic macadamia nuts with Sichuan pepper, salt and chilli. It's the first biteful my guests experience - it's like "welcome to Australia". Karen Martini: I use them in cakes, muffins, slices - but I also love the versatility of them because they're so good in savoury dishes as well, be it stir fries, salads, dips, curries. I use them instead of candlenuts in my laksa. There are endless opportunities with macadamias. Simon Sandall (Aria): They're so rich and full of fat ... good fats. They add a great, rich creaminess to any dish. I think it will be a staple in Australian cuisine. It's a native nut to Australia, why wouldn't you use it?

But the AMS says a handful of growers expanding is not enough.

Ms Burnett says unless there is a quantum leap in growth and investment, Australia will miss out on the opportunities in Asia.

"We have demand strongly outstripping supply so there's huge room for growth, but we need financial resources to drive that growth. We really do need that money now," she said.

"We make up around 1 per cent of the world trade in tree nuts. In the next 40 years I'd like to see us being 10 per cent of the world tree market.

"If you look back on what we've achieved in the last 40 years there's no reason why we couldn't achieve something as ambitious as that in the next 40 years."

High prices and booming markets are the perfect birthday present for an industry marking 40 years since the first commercial orchards were planted in northern New South Wales.

There are now 6 million trees in New South Wales, Queensland and Western Australia.

The macadamia is Australia's most successfully commercialised bush food, and is worth $200 million a year.

"If you look at some of the industries starting off in Australia around the time of the macadamia industry - like jojoba, emu, tea-tree - I think we're almost unique in being a well-established globally traded and commercially successful industry," Ms Burnett said.

Push for Australians to invest in industry

While 70 per cent of the crop is exported to 40 countries, Ms Burnett wants to spread the word in Australia that the macadamia is an Australian native.

She would like to see local investors show more interest in their own nut.

"We have a breeding program [that is] about to release varieties that potentially could have 30 per cent better yield than the current varieties," she said.

"We have strong demand, and are one of the most flexible and versatile products in horticulture.

"All these things mean investors can be confident there are opportunities for good returns."

Former merchant banker and now macadamia nut grower Tamara Williams says investment is likely to come from overseas, rather than Australia.

She was in Asia last month pitching the industry to potential investors.

"A lot of them are actually already into agriculture and it's quite a substantial part of their investment portfolio," Ms Williams said.

"So I think making the leap into macadamias is not a massive leap, whereas if you talked to some of the blue-chip investors within Australia, investing in macadamias is not on their horizon."

Long-term return pushing away investors

It is an attitude which bewilders accountant and retired macadamia grower Doug Rowley.

"Unfortunately the Australian investment community is more interested in the immediate and short-term gain rather than the long-term return that an agricultural-based investment is going to give," he said.

Mr Zadro understands why investors shy away from tree crops.

"There's a long lead time before you get a return because you have to plant the tree and let it grow and it takes several years before you really get a return," he said.

"But then after that the potential is so enormous it's staggering. There's many parts of Australia where people can grow macadamias, but they just don't know about it and the potential it has."

Macadamia nurseries say the rise in nut-in-shell prices, from a low of $1.50 per kilogram to $3.50 per kilogram, has seen an increase in inquiries.

"There's a lot of positivity out there. People are very keen to get into macadamias," Alloway Macadamia's Ray Norris said.

Phil Zadro says he is frustrated at the scale of the unmet demand in Asia. ( ABC TV )

"The frustrating thing for me is I don't have the trees to give them, but in this Bundaberg area especially there's a bit of dissatisfaction with cane at the moment so we're seeing a lot of enquiries from cane growers."

Hinkler Park's 81-year-old Phil Zadro is frustrated at the scale of the unmet demand in Asia.

"Every morning when I wake up I think about macadamias," he said.

"I see the need for expansion - how we're going to supply all the increase in demand around the world, be it nut in shell or as kernel, and I can't find an answer for that. The only answer I can see is plant more trees.

"I wish I was 30 years younger. If I was 30 years younger I would probably double and quadruple the industry overnight knowing what I know today."

See the full story on the macadamia industry’s 40th birthday on Landline's website.