Nuts

Pistachios: suppliers race against time

June 29, 2020 at 1:15 PM , Der AUDITOR
Play report as audio

TEHRAN. Iran’s pistachio exports have witnessed a sharp recovery in May. The export performance is, nevertheless, lagging far behind this this season so far. Market players are growing increasingly concerned as suppliers race against time.

Warehouse inventories exceed 91,000 metric tonnes

Exports in May in fact reached 9,209 metric tonnes, which is a 59% rise over May 2019 (5,794 mt) and a rise of 58% over May 2018 (5,818 mt). According to official customs statistics Iran has shipped 96,946 metric tonnes of pistachios overseas between October 2019 and May 2020, an increase of a stunning 232% over the 29,220 metric tonnes shipped in the same period one year ago. However, it should be noted that 2018/2019 was an “off-year” in the biennial production cycle, meaning that the comparison to 2017/2018 is more representative.

In this respect it should be noted that this season’s exports range 18.5% lower than in the same period two years ago when exports stood at 118,856 metric tonnes. The decline is mainly attributed to the limited supply of pistachios at the beginning of the crop year, the difficulties in financial transaction resulting from the sanction and Covid-19, which has slowed down exports in recent months. Problem is that an estimated 40% production, 91,400 metric tonnes, remained in the warehouses in May. Market players are highly concerned over these inventories and hope that exports will continue to pick up to the Far East, India and the Commonwealth of Independent States. over the next few months, boosted by attractive prices and the gradual transitions of the market after being hit by the coronavirus.

Time is running short

Time is, however, running short as the INC is reckoning with a record US production of 544,000 metric tonnes in the new season and production in Turkey is also expected to surge by 333% to 325,000 metric tonnes. By contrast, production in Iran is set to decline by 17.1% to 170,000 metric tonnes as 2020/2021 is an “off-year” in terms of production. Prices are indeed more competitive in Iran than in the US at present. Buyers are profiting from the devaluation of the rial, which has prompted prices to decline by EUR 0.29-0.34 per kg FOB, depending on variety. Prices in the domestic market have, however, remained firm.

Pistachios, Iran

Type

EUR/kg*

Ahmad Aghaei, 22-24

6.46

Ahmad Aghaei, 24-26

6.22

Akbari, 20-22

6.78

Akbari, 22-24

6.53

Kale Ghuchi, 22-24

6.34

Kale Ghucci, 24-26

6.15

Fandoghi, 30-32

5.72

Fandoghi, 32-34

5.53

FOB Iran

*Please note that these prices apply to an order volume of 1 metric tonnes. Prices for larger volumes may range lower and are subject to negotiation.

View more information

View related articles

Go to the News Overview
Nuts
Apr 24, 2024
MANILA. Lower raw material production due to El Niño, rising freight costs and geopolitical tensions are just some of the hurdles the coconut market has to face. Market players are correspondingly cautious.
Nuts
Apr 22, 2024
NEW DELHI/BUENOS AIRES. In India, some states have significantly expanded their peanut cultivation and can now get involved in the market. In Argentina, prices appear to have bottomed out and the outlook in Brazil is anything but optimistic.
Nuts
Apr 22, 2024
REUS/NEW DELHI. The International Nut and Dried Fruit Council has revised the 2022/2023 production estimates for cashews upwards. Yet, prospects for 2024/2025 are far from encouraging. In India the market has started to turn.
Nuts
Apr 18, 2024
BRUSSELS/REUS. Imports from Russia may have declined sharply for pine nuts since 2022, yet the country still holds a key position in the EU. Global production fell sharply in 2023/2024.