Apr 12, 2024American pistachio shipments on the rise
Meridian Growers, a prominent name in the pistachio industry, released its March shipment report, indicating a robust performance for American pistachios. According to the report, March 2024 shipments surged by a notable 14% compared to the previous year.
“The continuous growth in shipments reflects the resilience and competitiveness of the American Pistachio market,” stated Jim Zion, managing partner for Meridian Growers in an email. “This positive trend underscores the increasing demand for American Pistachios both domestically and internationally.”
Year-to-date figures reveal a 56% increase in shipments compared to the same period last year. The report indicated concerns remain regarding the industry’s inventory levels. With an estimated remaining inventory of 525 million pounds, and almost six months before the new crop, industry analysts warn of a potential strain on carry-in supplies.
Meridian Growers highlighted the importance of a strong domestic market to offset potential challenges from overseas markets. A slight uptick in domestic shipments for the second consecutive month brings optimism for the industry’s resilience amidst global uncertainties.
“For the second month in a row, we have seen a slight uptick in domestic shipments which bodes well for the industry. The industry needs a strong domestic market to help alleviate any potential problems coming our way overseas,” stated Zion in the email.
Growth has been observed in European markets, particularly Germany, while Asia has experienced a doubling of shipments, led by China/Hong Kong. The Middle East and Africa also exceeded expectations, with the UAE and Turkey emerging as key destinations for American pistachios, according to the report.
In addition to market updates, Meridian Growers reported progress on its Phase 2/3 expansion, aimed at increasing capacity to approximately 50 million pounds annually.
The shipment report from the ACP is available online.
