PISTACHIO TRADE IN 2023: IRAN'S EXPORT REDUCTION AND US'S EXPANDING PRESENCE IN GLOBAL MARKET
In the first two months of 2023, Iranian pistachio exports, encompassing both shelled and unshelled varieties, saw a substantial year-on-year decrease. According to Iranian customs data, the export volume during this time was 9,814 mt, with a value of just under USD 75 million, compared to 15,860 mt valued at USD 114.6 million during the same period the previous year. This equates to a 38% reduction in volume and a nearly 35% drop in value. Industry insiders point to limited availability due to harsh weather conditions, resulting in crop damage and a 5.7% average increase in prices compared to last year.
On the other hand, optimism is growing among US pistachio growers and producers regarding a larger share of the global market, driven by the rising demand for US pistachios. Innovative varieties and management techniques contribute to stability, even in years with lower production, as detailed by Farm Progress. In 2022, the US produced 885 million lbs of pistachios, with expectations of exceeding 1 billion lbs in the near future. California accounts for roughly 99% of US pistachio production.