LOS ANGELES, Feb. 21, 2022 (GLOBE NEWSWIRE) -- Pistachio prices are expected to keep moderately rising on short supply this year, according to a new report published by IndexBox. In 2021, the average export price for pistachios amounted to $12.2 per kg (IndexBox estimates), which was 35% more than in 2020.
Global production is forecast to fall by 16% y/y to 829K tonnes in 2022 on declines in Turkey and Iran. Turkey’s output is to see a deep drop by 65% y/y to 87K tonnes due to low yields from the alternate bearing crop cycle. Iran’s production is forecast down 29% y/y to 135K tonnes as frosts have damaged most plantations.
By contrast, U.S. pistachio production will rise by 10% y/y to a record 523K tonnes due to an expanded bearing area. Exports from the U.S. is expected to grow by 25% y/y to 290K tonnes with increased supplies to China and the EU. Global exports will drop by 10% y/y to 462K tonnes as the rise in the U.S. does not offset the declines in Iran, Syria, and Turkey.
Global Pistachio Exports
In 2020, global exports of pistachios expanded significantly to 390K tonnes, increasing 8.4% against 2019. In value terms, supplies grew modestly to $3.1B (IndexBox estimates).
The U.S. (164K tonnes) and Iran (131K tonnes) prevails in pistachio exports structure, together constituting 76% of total exports. Germany (17K tonnes), Turkey (16K tonnes), Hong Kong SAR (14K tonnes), the United Arab Emirates (11K tonnes) and Belgium (7.6K tonnes) followed a long way behind the leaders.
In value terms, the U.S. ($1.3B), Iran ($897M) and Germany ($188M) appeared to be the countries with the highest levels of exports in 2020, with a combined 78% share of global supplies. Turkey, Hong Kong SAR, Belgium and the United Arab Emirates lagged somewhat behind, accounting for a further 13%.
Top Pistachio Importers Worldwide
In 2020, China (104K tonnes), distantly followed by Germany (49K tonnes), Italy (20K tonnes), India (19K tonnes) and Hong Kong SAR (17K tonnes), were the largest importers of pistachios, together comprising 57% of total supplies. Spain (14K tonnes), Belgium (14K tonnes), Turkey (14K tonnes), the United Arab Emirates (13K tonnes), Saudi Arabia (10K tonnes), Luxembourg (8.9K tonnes), France (7.5K tonnes) and Viet Nam (6.9K tonnes) occupied a tiny share of total imports.
In value terms, China ($659M), Germany ($518M) and Italy ($194M) constituted the countries with the highest levels of purchases in 2020, together accounting for 44% of global imports. These countries were followed by India, Spain, Hong Kong SAR, Belgium, Saudi Arabia, Turkey, France, Luxembourg, the United Arab Emirates and Viet Nam, which accounted for a further 35%.
About IndexBox
IndexBox is a market research firm developing an AI-driven market intelligence platform that helps business analysts find actionable insights and make data-driven decisions. The platform provides data on consumption, production, trade, and prices for more than 10K+ different products across 200 countries.
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Companies Mentioned in the Report
Arizona Nut Company, ARO Pistachios, Buchanan Hollow Nut Co., Eagle Ranch Pistachios, Eriksson LLC/Ingleby USA, Fiddyment Farms, Horizon Nut LLC, Keenan Farms, Meridian Growers, Monarch Nut Company, Nichols Farms, Primex Farms, Zymex Industries, Touchstone Pistachio Company, Setton Pistachio of Terra Bella, Padideh Pistachio, IRNUTS, Frekans, Unal, Fistachio Gida, Ayse Ozlem Tutar
Sources
World - Pistachios - Market Analysis, Forecast, Size, Trends and Insights
World - Nuts - Market Analysis, Forecast, Size, Trends and Insights
EU - Pistachios - Market Analysis, Forecast, Size, Trends and Insights
Asia-Pacific - Pistachios - Market Analysis, Forecast, Size, Trends and Insights
Northern America - Pistachios - Market Analysis, Forecast, Size, Trends and Insights
