Pistachios Market Update June 2022 Week 23

The drought and excessive heat in Iran have impacted several nut production. Iran's pistachio exports have fallen sharply between January and April. The issue isn't simply the quantity of the crop but also the quality. Many pistachios continue to grow empty, definitely impacting the supply and discouraging buyers.

This has prompted an increase in demand which exporters are eager to hold on to. Prices for pistachio kernels are definitely higher than last year by 1.6%, US$ 11.23/kg. Yet, they only account for 22% of Iran's total pistachio exports this year.

Overall, Iran's pistachio kernel exports have decreased by 40%. The country was able to ship 9,970 MT of kernels last year, valued at US$ 101 million between January and April 2021. This figure went down to 6,000 MT at US$ 67 million this year during the period of January and April.

Traders also report that sudden frost this year in early spring has caused severe damage and is also set to affect crops. Since prices have already increased in recent weeks due to low inventories, it is not expected that the situation will be any better in the near future.