Oct 4, 2024Meridian Growers reports port strike disrupts shipments, pistachio prices rise in its Oct. 3 report
Meridian Growers released its Oct. 3 market update, noting that it expects delays and increase shipping costs due to the East Coast port strike.
Pistachio harvest is underway, with some growers just beginning the first shake. While crop size is still debated, expectations are lower than initially forecast, the report noted. Opening prices announced this week spurred significant demand, and prices are expected to rise further next week as inventories tighten.
In the almond market, kernel prices have stabilized for the past three weeks, with increased demand for pollinators from Europe. However, in-shell almonds are seeing a downturn as growers continue to assess the new crop.
Pecan growers in Georgia and neighboring states are reeling from Hurricane Helene, which damaged this year’s crop and destroyed trees, impacting future harvests. The market is expected to tighten as a result.
