Truffle lovers are being invited to join a membership co-operative to benefit from a share in ownership and the proceeds of a truffle farm based in the fertile region of south-west Australia.
The Nannup Truffle Growers Co-operative is located on a 300-acre farm outside Nannup, an area famous for its wines and agriculture.
The co-operative structure is set up to enable people to share in the benefits of owning a share in a truffle farm.
The co-op is the brainchild of Perth businessman Dave Somerville.
Somerville has always considered himself a food enthusiast, so a natural progression from discovering truffles was becoming obsessed with them.
“I discovered that far from only being found accidentally by truffle hunters and their pigs, these little beauties are actually scientifically inoculated, grown, and harvested very successfully in the South West of WA,” Somerville said.
“All you need is the right science, trees, the right spores and a little bit of know-how.”
Truffles currently wholesale at $1000 a kg and they retail up to $3000 a kg.
On this basis, members are forecast to receive an estimated 20 per cent return after tax per annum and can take their share of the proceeds in cash or truffles at a farm gate price.
To buy a share in the truffle co-op will cost a subscription of $1250 – which is equivalent to less than $65 per year.
If they achieve forecasts – returns from the fourth year will be three per cent growing to 20 per cent, or $250 per year.
If members choose to take their profit in truffles, they can receive truffles to the equivalent wholesale value of $250 – which is a retail value in the vicinity of $500 to $750 per year.
In addition to truffle or financial returns, the truffle co-op membership benefits also include a number of foodie perks such as Invitations to join truffle hunts, invitations to truffle dinners, and great discounts on truffle products from Great Southern Truffles.
Winnie Ang, one of the first members of the co-op, said the idea of truffle dinners drew her in.
“I can’t wait to participate in the truffle hunts with the dog and meet other truffle fans like me That area of WA is beautiful at that time of the year,” Ang said.
“For me, having access to my own truffles at a farm gate price seemed like a great investment, not to mention all the other benefits of being a truffle farm shareholder.”
