US Pistachio Status
Crop year 2024 update
SUPPLY:
- CY24 crop was an “off year” after a record “on year”
- Global harvest between California and Iran is approximately 703k MT, with California accounting for 503k MT, or about 72%
- Reduced supply limited shippable volume, with the original shipment target set at 420k MT
DEMAND:
- Demand will surpass all targets, and is on track for 431k MT
- Year-to-date shipments of 378k MT are ahead of pace
- The current crop is fully committed
- Carry out at minimum levels; minimum needed to cover commitments
GLOBAL PISTACHIO INDUSTRY: SUPPLY
Global Unyielded Harvest Volume by Crop-Year: US vs. Iran
US HARVEST GROWTH PEAKED AND WILL NOW REMAIN STEADY
| Crop Year | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 |
| Pistachio Supply (‘000 MT) | 473 | 336 | 523 | 401 | 677 | 503 | 725 | 590 | 775 | 660 | 885 | 700 |
| 2 Years average | 404K MT | 462K MT | 590K MT | 658K MT | 720K MT | 795K MT | ||||||
US Unyielded Harvest Volume by Crop-Year
FULL-YEAR US INDUSTRY SHIPMENTS
We are fully committed for CY24, on pace for 431k MT, which is 11-12k MT over the initial target. Industry supply constraints left some demand unfulfilled
| Crop Year | 19 | 20 | 21 | 22 | 23 | 24 |
| Shipments (000’s MT) | 238 | 277 | 323 | 351 | 475 | 431 |
| 2 Years average (000’s MT) | 258K MT | 337K MT | 453K MT | |||
US PISTACHIO Crop Year 2025
INDICATORS SUMMARY
Going into Spring, the industry estimate was 725k – 816k MT, but we are now in the 680k – 770k MT range because:
WEATHER
• Early indicators have tempered crop expectationsFARMING
• The state of the farming economy is reducing inputs to maximize yields
AMERICAN PISTACHIO INDUSTRY OVERVIEW
Consumption
- Year-to-Date shipments are on pace for 431k MT, leaving a minimum carry-out (~59k MT, some committed) for transition to Crop Year 25
- Strong demand for pistachios (especially kernels) across all markets indicates positive momentum for long-term category growth.
- Higher prices have no significant impact on global consumption as of the end of June 2025
- There are intense demands for US Pistachios in Europe and the Middle East. As the euro is strong, with a 7% increase against the USD, higher prices will not affect European buying strength.
Supply
- Early indicators have tempered crop expectations
- The state of the farming economy is reducing inputs to maximize yields
- The crop is smaller than expected. Due to recent rains, the crop has become colored and stained, and the number of insect-damaged pieces has increased.
- The Wonderful Pistachio Co. announced the prices of the American Pistachio on September 29th as follows:
| Raw 21-25 USX1 | 4.10 USD /lb |
| Raw 18-21 USX1 | 4.30 USD /lb |
| Huller Run | 3.75 USD /lb |
| Golden Hills | 3.85 USD /lb |
| Golden Hills (+Supreme Quality) | 4.00 USD /lb |
CY25 CROP INDICATORS TEMPERED EXPECTATIONS
Chill | Bud Count
End of NOV – End of JAN
Bloom
End of FEB – Middle of APR
Fruit Size
End of APR – Middle of JUN
Nut Fill
End of JUN – End of AUG
Harvesting
End of AUG – Middle of OCT
CHINA MARKET OVERVIEW
Crop Year 2024 shipments to China is dropped by ~35% due to the less supply
US Pistachio Shipments to China -35%
CHINA needs reliable fast shipments to fulfill the CNY 2026
Chinese New Year: February 17th, 2026
春节2026年2月17日
Driving Market Demand in China
Road Shows
- Promote a Healthy & Happy Lifestyle on World Pistachio Day
- Impression > 1.1 billion
News Clippings
- 2,200 + clippings
- 360° promote health benefits & happy lifestyle
- Impression > 8 billion
Social Push
- 200+ social posts
- Always-on promoting a healthy & happy lifestyle, daily consumption momentum
- Impression > 598 million
Top-tier KOLs Cooperation
- Cooperation with top-tier KOLs
- Promote Festive Consumption and Healthy Benefits
- Livestreaming viewership >80 million
CNY Campaign
- Embodying ‘Health and Happiness’ festive wishes through trendy comedy performances
- Impression >1.8 billion
Summer Sports Campaign
- Promote healthy benefits & lifestyle with various pistachio applications
- Impression >700 million
Pistachios Product Innovation
Pistachios Product Innovation
Driving Market Demand in China
Road Shows
- Promote a Healthy & Happy Lifestyle on World Pistachio Day
- Impression > 1.1 billion
News Clippings
- 2,200 + clippings
- 360° promote health benefits & happy lifestyle
- Impression > 8 billion
Social Push
- 200+ social posts
- Always-on promoting a healthy & happy lifestyle, daily consumption momentum
- Impression > 598 million
Top-tier KOLs Cooperation
- Cooperation with top-tier KOLs
- Promote Festive Consumption and Healthy Benefits
- Livestreaming viewership >80 million
CNY Campaign
- Embodying ‘Health and Happiness’ festive wishes through trendy comedy performances
- Impression >1.8 billion
Summer Sports Campaign
- Promote healthy benefits & lifestyle with various pistachio applications
- Impression >700 million
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