Pistachio

The Administrative Committee for Pistachios (ACP) released the December shipment report on January 15, 2023. 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.

December shipments were up 40% versus last year at 71 million pounds versus 50 million in Decemeber 2021. Year-to-date shipments currently stand at 295 million pounds, down 3% versus last year’s shipments of 304 million pounds as of the end December. Domestic shipments are flat year-to-date at 83.7 million pounds versus 83.8 million pounds last year, while export shipments are down 4% year-to-date at 211 million versus 220 million last year.

While Inshell pricing is firm, 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 set 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.