USA Pistachios Market Update 24.06.24

Date: 24th June 2024 Category: Latest News
USA Pistachios Market Update 24.06.24

In comparison to last year, this May saw a 16% decrease in shipments. However, year-to-date shipments have risen by an impressive 42% over the same period. The decline in May is attributed to shrinking inventory, as many sellers are holding onto 2023 stocks to meet their needs in 2024. As we progress into the 2024 crop season, concerns are mounting that the total yield will fall short of 1 billion pounds (450,000 MT).

On a positive note, domestic shipments have once again increased from last year, signalling a promising development for an industry that has seen sluggish domestic market activity in recent years. This uptick coincides with intensified efforts by American Pistachio Growers to boost domestic demand.

The international marketplace continues to dominate the distribution of American pistachios, accounting for 80% of all shipments. We have observed significant growth not only in Asia but also in Europe, which was traditionally seen as a mature and slow-growing market. Additionally, kernel sales have surged across all markets. Demand for kernels has been steadily rising as buyers and consumers increasingly recognise the benefits of incorporating them into a variety of products.

via kenkko