Mar 19, 2024Pistachio exports surge, prices expected to rise
In a recent report by Meridian Growers, February marked a robust performance for pistachio shipments, with a 48% increase compared to the same period last year. The industry, year-to-date, is approximately 65% ahead of 2023.
Meridian Growers noted that while domestic shipments showed a slight uptick, it’s the export markets that have witnessed spikes:
- Central America: Up 1328%
- South America: Up 191%
- Europe: Up 82%
- Asia: Up 96.5%
“Export markets, particularly in Central and South America, Europe, and Asia, have been pivotal in driving the remarkable growth we’ve seen,” stated Jim Zion, a representative of Meridian Growers, in the February Pistachio Shipment Report.
Highlighting key markets, Zion emphasized the significance of China/Hong Kong while also noting substantial growth in India, Germany, Saudi Arabia and UAE.
Meridian Growers stated its report that it anticipates no moderation in prices, but foresees a potential increase. The forecast provided aligns with expectations for the 2024 crop, estimated to range between 1.1 billion to 1.2 billion.
“The forthcoming crop estimates and the withdrawal of many processors from the market as they assess their sold positions are factors contributing to the anticipated price uptick,” Zion detailed in the report.
Meridian Growers also encouraged stakeholders to reach out with any inquiries or comments regarding the market dynamics. For further details, the full shipment report from the ACP can be accessed online. For additional questions, contact Jim Zion at Meridian Growers.
