Oct 26, 2023Meridian releases September pistachio report
Meridian Growers has released its September 2023 report, which outlines current pistachio shipments and a market update.
PISTACHIO MARKET UPDATE
Meridian Growers detailed that as of the date the shipment report was published on October 17, 2023, the industry was in the last days of harvest. It estimated that crops will reach 1.3B pounds, which exceeds the INC estimate of 1.1B pounds.
“Shipments for September are down about 7% from the same period last year. This is not due to a lack of demand but more related to low 2022 inventory availability and a 2023 crop that was 2 weeks later than last year. I fully expect to see shipments in October exceed last year,” the Meridian Growers report detailed. “We saw tremendous demand for pistachios after the unexpected low opening prices with capacity for Oct to Dec shipments almost completely booked.”
The report also shared that prices have become more firm and more processors are getting to a “very comfortable sold position.” Although Meridian Growers does not anticipate any significant price increases, it noted that the low prices were seen approximately two weeks ago and “are gone.”
The American Pistachio Growers (APG) released its 2023-2024 Crop Year updated report. This report noted that the pistachio inventory shipments of open inshell has reached 48,071,167 pounds. Read the comprehensive report here.