Jul 22, 2024Meridian Growers reported pistachio shipments down
Meridian Growers reported a 16% decrease in June pistachio shipments compared to the same month in 2023. Despite the decline, shipments for the year are still up 35% ahead of last year.
The decline is attributed to limited supply rather than decreased demand, as the industry awaits the upcoming harvests in Arizona and California, expected in 20 and 40 days, respectively.
Domestic shipments have increased, reversing a recent trend of lagging demand, thanks to efforts by processors and nutritional campaigns from American Pistachio Growers. Kernel shipments also show a 7% year-to-date increase over 2023, indicating strong demand.
The market remains stable ahead of the harvest, though the impact of the ongoing heat wave in California and Arizona on the crop is uncertain. Additionally, Turkey’s 2024 pistachio crop is expected to decrease by 40-50% due to extreme weather.
Meridian Growers will finalize the 2023 inventory next week and expects quick sales of the remaining stock due to low carry-in and early demand from the Chinese New Year.
