The United States Department of Agriculture (USDA) recently published its tree nut update, pegging the global pistachio production for 2021/22 at 829,000 tonnes, down 16% year-on-year (y-o-y), largely due to lower harvests in Iran and Turkey.
Production in Iran is projected to reach 135,000 tonnes, a decline of 29% y-o-y, following significant frost damage. As a result, the USDA anticipates the 2021/22 pistachio exports from Iran to fall by 41% compared to the previous campaign, to 135,000 tonnes. In Turkey, output is forecast to plummet by 65% y-o-y to 87,000 tonnes on the back of lower yields in Turkey’s alternate bearing crop cycle.
Pistachio production in the US, the largest global pistachio producer, is projected to rise in 2021/22 to 523,000 tonnes, an increase of 10% y-o-y, following high production yields coupled with an increase in bearing acreage. The USDA anticipates US pistachio exports will grow by 25% y-o-y, driven by strong shipments to China and the EU. Between September 2021 and January 2022, the US exported 248 million pounds of pistachios (112,644 tonnes) compared with 243 million pounds during the same period in 2020/21, according to data from the Administrative Committee for Pistachios.
The full USDA report can be found here.
Meanwhile, the Mintec Benchmark Prices for US pistachios (21/25 FAS US) were last assessed in January at USD 3.62/lb, up 2% m-o-m but down 5% y-o-y.