CCI Nuts: Pistachio Market Report (2024/25)

1. US Crop:

• The 2024/2025 pistachio crop in the USA is estimated to exceed 1 billion lbs (approximately 454,000 mt in-shell). While it won’t match last year’s record volume, it is still expected to be good.

• Extreme heat in California may reduce the yield of high-quality pistachios, which could initially support prices.

1. Iranian Prices:

• Iranian pistachio prices are currently at lows. In-shell pistachios (specifically Ahmad Aghaei, 26/26) are trading at about EUR 7.9/kg F.O.B Iran.

• The new season is beginning, and prices have reached new lows, continuing to fall in recent weeks.

1. Exports and Consumption:

• Year-to-date export shipments by the 9th marketing month have reached 105,000 MT of in-shell equivalent pistachios.

• Domestic consumption is estimated at 21,000 MT.

• The remaining marketable inventory at the end of the 9th marketing month is approximately 74,000 MT of dried in-shell pistachios.

1. Local Forecast:

• The official pre-harvest forecast for the 2024 IRI pistachio crop is 190,000 MT of dried in-shell pistachios.

• The new crop is expected to consist of:

• 38% non-Akbari Long (e.g., Ahmad Aghayi, Badami)

• 32% Round

• 16% Jumbo

• 14% Akbari USD ~ =  59200 Iranian Toman