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Pistachio Market Update - September 2022

The final shipment report of the 2021 crop year was released by the ACP last week. The 2021 crop carryout stands at 354 million pounds, which is an increase in 70 million pounds (or 25%) compared to last year’s carry over of 284 million pounds. The carryout is down considerably from the originally anticipated 450+ million pounds earlier this year. However, it is important to note that some volumes have been shipped unsold overseas to destination markets.

The 2022 crop is considerably smaller than we expected, with current industry expectations around 800 million pounds, compared to early estimates of 1.1-1.2 billion pounds. Last year’s total supply was 1.45 billion pounds (1.16-billion-pound crop and 284 million pounds carryout).

The Iran crop is also down considerably, with expectation currently between 70k-90k MT. This is down from last year’s crop of 135k MT, and the earlier forecast of 110k MT given at the INC conference.

Given the supply shortages, all sellers are currently off the market, and we expect pricing to firm. Wonderful’s opening price will be released this upcoming weekend, which will heavily determine the way forward for pricing.

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