Nuts

Pistachios: June exports slumped massively

July 16, 2020 3:14 PM, Der AUDITOR
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SACRAMENTO/MADRID. Contrary to the export trends of other US nuts, pistachio shipments in June were significantly lower than last year.

Germany and Spain are exceptions

Since the start of the season, 237,672 metric tonnes of shelled and unshelled US pistachios have been delivered both domestically and overseas, almost a quarter less than this time last year. While domestic demand remained relatively stable at 85,360 metric tonnes, the export volume decreased by 32% to 152,316 metric tonnes compared to last year.

Germany (+9% to 25,233 mt) and Spain (+15% to 9,905 mt) are among the few importing countries to have increased their imports this season and June imports were also 4% and 14% above the import volume in June 2019, while at the same time shipments to China/Hong Kong fell by 44% to 54,046 metric tonnes, the June figures being about a tenth of the import in the same month last year. A total of 17,650 metric tonnes of shelled and unshelled US pistachios were delivered domestically and overseas in June 2020, around 40% less than in June 2019. At 8,602 metric tonnes, domestic demand remained relatively stable, while the export volume slumped by a good half year-on-year (19,743 metric tonnes in June 2019 vs. 90.48 metric tonnes in June 2020).

US pistachio exports* in mt

Destination

2018/19

2019/20

Diff.

Europe

72,068

58,418

-19%

Asia/Oceania

115,735

67,343

-42%

Africa/Middle East

26,654

15,903

-40%

Central and South America

1,030

946

-8%

North America

9,815

9,706

-1%

Total

225,301

152,316

-32%

Administrative Committee For Pistachios
*Since the beginning of the season

Record crop should push prices down

Current estimates (source: International Nut and Dried Fruit Council) reckon that US pistachio production in 2020 will more than double to 544,000 metric tonnes compared to last year, and Turkey is also expected to be able to achieve a result of 325,000 metric tonnes (+333%) in its "on-year" production. With record crop and potentially falling prices, the pistachio thus joins the general nut market trend. In the European spot market, US pistachios, 18/22, Extra 1 are at a level of EUR 9.40 per kg FCA Spain, while shelled goods are traded for EUR 15.50 per kg.

Pistachio prices

Variety, Origin

EUR/kg

In-shell, 18/22, Extra 1, USA

9.40

Shelled, USA

15.50

In-shell, 18/22, Extra 1, Spain

8.70

Blanched, green, "A" extra

28.40

Trade sources; FCA Spain

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price chart, pistachios, inshell, Ahmad Aghaie, 22/24, NO, Iran
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