In May we saw a decrease in shipments from the previous year of about 16%. However, year-to-date shipments are still up by an astonishing 42% for the same period last year. The decrease in May is due to shrinking inventory as more and more sellers look to hold onto 2023 stocks to cover their needs in 2024. As we get further into the 2024 crop there are growing concerns that the crop will not make 1 billion pounds (450,000 MT)

While it may be minor, we once again saw an increase in domestic shipments from last year. This bodes well for the industry as the domestic market has been sluggish the past few years.  It is interesting to note that this increase has come at the same time American Pistachio Growers have begun putting more effort into expanding demand domestically.

The international marketplace still takes the lion's share of American pistachios accounting for 80% of all shipments. We have seen substantial growth not only in Asia but Europe which was always considered a mature and slow-growing market.

Also of note is the growth in kernel sales in all markets. Demand has been increasing steadily for kernels in all markets as buyers and consumers realize the benefit of adding kernels to all kinds of products.  Pistachios have a unique color, flavor, and nutritional profile that cannot be duplicated by any other nut. This is one reason we have partnered with The Pistachio Factory to expand their production and marketing of pistachio butter and paste.

As mentioned previously, tours of various orchards indicate a very uneven crop. While the Golden Hills and Lost Hills seem to be somewhat normal for an off-crop, the Kerman variety, which is still the bulk of what we grow, definitely has issues.  Stay tuned but do not be surprised as more and more processors pull off the market with so much uncertainty over the 2024 crop.