Jan 24, 2024Meridian Growers provides December pistachio shipment report
Meridian Growers released its December Pistachio Shipment Report, which indicated a record-breaking year for American pistachio crops.
In the latest update from the American Pistachio Council (ACP), the December Pistachio Shipment Report reveals that the pistachio crop has reached 1.492 million pounds, marking the largest crop in history.
Shipments have soared, breaking records with December shipments year-to-date totaling 511 million pounds, a 73% increase compared to the previous year. Notably, there has been a substantial surge in shipments to Europe, particularly Germany, and significant increases in shipments to China.
Industry experts anticipate another robust shipping report for January, expected to be released by mid-February.
Meridian also pointed out several key topics discussed at the recent Peanut Tree Nut Processors Association meeting provided insight into the overall industry’s dynamics.
Strong overseas demand
Demand for American pistachios remains robust overseas. However, domestic shipments have experienced a plateau.
Crop outlook
The carryout from the 2023 crop is projected to be in the range of 250 to 300 million pounds, making it one of the smaller carryouts in the past three years. Next year is anticipated to be an “off” year for production, with an estimated crop of 1.25 billion pounds, bringing the total American supply on par or slightly below the current year.
Market stability
The market is expected to remain stable to firm throughout Q1, Q2, and into Q3. However, increased demand for pistachio kernels may pose challenges as the industry anticipates potential constraints on supply for near-future needs.
For more information, contact the ACP.
