Pistachio Market Update November 2021 Week 47

There have been a few developments in the pistachio industry, especially since shipments have started. So, if you're interested in finding out more, keep reading.

News from the Iranian Market

The Iranian Pistachio Association has reduced its estimation for the 2021 pistachio crop to 300MM lbs, about 135,000 MT, with a smaller size of the nuts as well. This is largely due to some crops being damaged by frost.

In addition to this, they also updated the Iranian crop size for 2020 to 536MM lbs. This is in part to reflect on the strong shipping trends that were seen throughout 2020, and we will have to see what happens as the season progresses.

The California Crop

The California crop is expected to be at around 1.2 billion lbs for the year 2021. With excellent quality overall and large in-shell sizes, the shelling stock is quite limited. However, it is expected that there will be large shipments throughout the season.

Most processors are offering only 21/27 sizing for Californian pistachio.

Other Updates

It has been seen that the overall demand for pistachios has increased this year. Larger crops have resulted in lower starting prices, but these have stabilized pretty quickly. In-shell is now at 21/27 X1 prices at $3.60-3.70/lb. 80% of kernels are being traded right now at $8.30 to 8.50/lb.

It is expected that the kernels will be quite limited in supply this year, leading to firm prices.