Pistachios: US exports take a hit
November 25, 2024 at 11:37 AM ,
Der AUDITOR
Strong domestic demand
Total monthly shipments stood 10% lower in October at 107.9 million pounds as compared with the same month last year as recently issued figures by the Administrative Committee for Pistachios show. Domestic shipments thereby declined by a more moderate 2% to 20.9 million pounds, whereas exports dipped by a much more pronounced 12% to 20.9 million pounds. Year-to-date total shipments have also declined by 10% to 162.4 million pounds in the first two months of the season. While exports range 14% lower at 120 million pounds, domestic shipments have risen by 3% to 42.4 million pounds. As carry-ins are estimated at 184,606 pounds and receipts amount to 1.1 billion pounds this leaves an estimated marketable inventory of just over 1 billion pounds.
Slump in demand in China
Although exports to China have slumped by 40%, the country still accounts for 30% of US exports. Shipments to Germany have, by contrast, risen sharply by 25%. They have also more than doubled to Vietnam. While shipments to most top ten export destinations are up, exports to Spain, Hong Kong and Italy have taken a hit.
|
US pistachio exports (1,000 pounds) |
|||
|
Destination |
2023/24 |
2024/25 |
Diff. |
|
China |
65,644 |
40,041 |
-40.0% |
|
Germany |
14,105 |
17,644 |
25.1% |
|
Vietnam |
4,865 |
11,953 |
145.7% |
|
Turkey |
3,923 |
4,738 |
20.8% |
|
Spain |
6,045 |
4,344 |
-28.1% |
|
Canada |
3,499 |
4,319 |
23.4% |
|
India |
3,261 |
3,970 |
21.7% |
|
Hong Kong |
4,054 |
2,986 |
-26.4% |
|
Italy |
4,319 |
2,960 |
-31.5% |
|
UAE |
2,022 |
2,607 |
28.9% |
|
Others |
28,347 |
24,416 |
-15.9% |
|
Total |
140,084 |
119,978 |
-14.4% |
|
Administrative Committee for Pistachios, 01/09-31/10 |
|||
Good quality and concerns over water
The US season started off with low carry-in supplies and high prices. Quite a few exporters initially pulled out of the market to better assess the new crop. Current projections range at just below 500,000 mt or 1.1 billion pounds, which is 24% down on last year. Supplies are still an issue as traders report that split pistachio kernels will not be available until February. Apart from this the quality is said to good, especially in Arizona as local media report. Concerns are also being voiced that growers who rely on irrigation will be confronted with tougher water restrictions due to the Sustainable Groundwater Management Act. Expectation is that prices will remain elevated.
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