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CCI Nuts: Turkish Pistachio Updates - November 2021

Updated: Nov 27, 2021

Turkey struggles with volatile financial conditions (lira depreciation)

According to the latest International Nut and Dried Fruit Council (INC) data, Turkey's pistachio crop is estimated at around 89,000 mt inshell this season, more than 70% less than last year. The pistachios are harvested green to allow the trees more time to recover before the new season starts. The nuts of the "Mawardi" and "Red Type" varieties have turned out smaller than last year because the growing regions did not receive the expected rainfall in summer, which could lead to new shortages. The Mawardi kernels are coarse and 70% of kernels are green. Used in halva, gelato and ice-cream sectors, and contain less amount of oil. One problem Turkey is currently facing is the unstable financial market, which affects all export sectors. Generally, around 80% of Turkish pistachios are consumed locally, however, attractive export prices caused by cheaper TRY will help boost exports.

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