Pistachio Shipment Market Report: Strong Demand Drives Record Numbers

U.S. Pistachio Shipments Soaring

This report highlights the continued strength of the American pistachio industry, particularly in terms of shipments. April 2024 saw a nearly 9% increase in shipments compared to the same month last year. Even more impressive, year-to-date shipments are currently 50% higher than at the same point in 2023.

Global Demand on the Rise

The report emphasizes the robust demand for American pistachios across the globe. European, Chinese, and Hong Kong markets remain particularly strong, while encouraging growth is also seen domestically. This is a welcome change for the U.S. industry, which has seen lagging domestic sales in recent years.

2024 Crop Outlook

The report provides insights from the recent INC in Vancouver, including the anticipated global pistachio crop for 2024. Here's a summary:

• U.S. crop: Expected to be around 1.1 to 1.2 billion pounds
• Iran: Estimated crop of around 200,000 metric tons (approximately 440 million pounds)
• Turkey: Estimated crop of 400,000 metric tons (approximately 880 million pounds in hull weight, but adjust down by 50% for kernel weight)

Market Conditions Favor U.S. Producers

The report highlights several factors creating a favorable market environment for U.S. pistachio growers:

• Minimal carryover from previous harvests suggests a strong demand for the upcoming crop.
• Continued strong demand across all sectors, with the health benefits of pistachios resonating with consumers.
• Expanding market for pistachio kernels, with new applications emerging.

Early Harvest Advantage

The report anticipates a slightly later harvest in 2024 compared to the previous year, coupled with an earlier Chinese New Year. This combination suggests a high demand for pistachios in September and October. The report suggests that early shipments will likely command a premium price.

The company issuing this report positions itself to capitalize on this trend by highlighting its ability to offer some of the earliest shipments due to its processing methods and access to pistachios from Arizona, which typically harvests earlier than California.