If you are a pistachio enjoyer, you already know about those nuts in the world with high nutrition values and of course their expensive prices.
Today in this article we are going to take a look at their global market analysis.
The 2021 U.S. pistachio production will surpass all previous records due to high yields and an increase in the average number of nuts per nut.
This may result in an increase in exports, particularly to the European Union and China, while local prices stay stable.
By 2022, the United States will have a better position on the global market than its closest competitor, Iran, whose pistachio inventories will be reduced as a result of lower yields.
The United States forecasts a record pistachio harvest in 2021.
The USDA predicts that nut production will grow from 352K tonnes to 454K tonnes in 2018, which is equivalent to 230K tonnes of shelled nuts.
As stated by the Administrative Committee for Pistachios, in 2020, bearing acreage increased by 21.6% compared to the previous year, while average yield per acre increased by 30%. (ACP).
Prices on the domestic market should remain stable as a consequence of the bountiful harvest.
In 2021, it is expected that U.S. exports would grow by 40%.
Despite the fragile state of trade relations between the EU and China, American pistachios are bound for the EU and China.
China will continue to be the world's largest importer of pistachios.
The United States will keep its position as the global leader in pistachio production by a tiny margin over Iran, the current runner-up.
Iran anticipates a decline in yield in 2021, in contrast to the United States, which anticipates an increase, but the administration intends to maintain export levels due to last year's stocks.
As Iran's stocks run dry in 2022, it is anticipated that the United States will further solidify its position as the world's export leader.
The majority of the increase in pistachio consumption will result from a bigger global population.
Throughout the epidemic, pistachio sales have declined, mirroring a broader trend of consumers rejecting more expensive, non-essential goods as their discretionary budgets decreased.
This larger tendency is the key factor restraining market development.
As quarantine limitations are gradually eased, pistachio sales are anticipated to expand as the B2B market undergoes a demand increase.
The United States is anticipated to produce 352K tonnes of pistachios in 2020, up 4.9% from 2019.
During the time period analysed, production climbed significantly.
The production of pistachios reached a record of 448 thousand metric tonnes in 2018, and subsequently fell in 2019 and 2020.
The United States had modest growth in pistachio production, with an increase in harvested area but a decline in output.
In 2020, pistachio production hit a record high of $2.9 billion.
