Pistachio production in Iran to grow this year


Pistachio production in Iran to grow this year

09/08/2020

Iranian exporters are now facing major challenges in organizing supplies and receiving payments for their products due to US sanctions

The harvest of pistachios in Iran this year will be significantly higher than last year, EastFruit reports, citing a statement by the Association of Dried Fruit Exporters from Iran, which is quoted in the Tehran Times.

According to the Association, in the current calendar year, which according to the local calendar ends on March 20, 2021, the production of pistachios in the country will grow by 14-31% and reach 200-230 thousand tons.

The increase in the supply of pistachios in Iran will occur against the backdrop of a rather unfavorable situation in the world nut market for Iranian suppliers. First, world traders are already talking about a significant drop in demand for nuts due to the effects of the COVID-19 pandemic, and, for example, the United States, Iran’s main competitor in the pistachio market, will reduce the export of these products by 28% to 200 thousand tons per season. -2019/20 (September-August), which we wrote about earlier.

As a result, this season pistachio prices in the US, according to Rabobank, may fall by 7-12% to $ 5.07-5.29 / kg. As for pistachios from Iran, now, compared to the same period last year, they have already fallen in price by 19% to $ 6.5 / kg, according to the local industry association.

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Secondly, Iranian exporters are now facing serious problems in organizing supplies and receiving payments for their products due to the restoration of US sanctions on cooperation with companies from Iran and the disconnection of Iranian banks from the SWIFT system.

According to the Association, in the previous calendar year, which according to the local calendar ended on March 19, 2020, China was the key sales market for pistachios from Iran, with European countries and the Middle East being the second and third most important export markets, respectively.

EastFruit

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