Pistachio

The Administrative Committee for Pistachios (ACP) released the January shipment report on February 14th. 2022 crop receipts have finalized at 884 million pounds. Total supply for the 2022 crop year is 1.24 billion pounds, down 14% from last year’s total supply of 1.45 billion pounds. Estimated marketable inventory as of January 31st was 696 million pounds.

January shipments were up 30% versus last year at 70.1 million pounds versus 54 million in January 2021. Year-to-date shipments currently stand at 365 million pounds, up 2% versus last year’s shipments of 358 million pounds as of the end of January.

Domestic shipments are down 2.4% year-to-date at 107.2 million pounds versus 109.88 million pounds last year. While export shipments are up 4% year-to-date at 258.1 million versus 248.3 million last year. Inshell pricing continues to be firm while kernels have remained soft. This is due to the low availability of good quality inshell and higher availability of shelling stock.

Given the favorable winter we are having in California, a larger 2023 Pistachio crop is expected. Expectations are also that Iran will have a larger crop in 2023 after experiencing two crop failures in a row. If 2023 crop expectations materialize, it is possible that pricing softens going forward.