Pistachio Market Update February 2022 Week 5

In the last year, we've seen Iran's pistachio export decline by 12%, which is a miracle considering how sharply production has decreased for pistachios. 

It is, however, expected that this situation will escalate further this year as there has been an adverse development. For, it is likely that severe drought conditions will not only continue in the region, but it will also impact the quality of the current production.

According to traders, currently, Iran's annual pistachio in-shell and kernel export has fallen into the range of 165,066 MT, worth US$1.105 billion in 2021 from the 2020 187,607 MT crop size. As you can see, this is a massive blow.

In terms of value, the exports have declined by 18.7% on the US$1.359 billion generated in 2020, with average export prices decreasing by 7.6% from US$7.25/kg in 2020 to US$6.70/kg in 2021. 

As you can see, the situation is a bit concerning, and we will update you as soon as we have more intel.