Economy, Business And Markets
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Increase in Pistachio Exports

Iran and the US have been vying for the top pistachio producer and exporter spot.Iran and the US have been vying for the top pistachio producer and exporter spot.

An estimated 28,000 tons of pistachio worth 8.3 trillion rials (close to $234.5 million) were exported during the first four months of the current Iranian fiscal year (March 20-June 20), which indicates a 22% increase in volume and 29% rise in value compared to last year’s corresponding period, according to the data  released by the Islamic Republic of Iran Customs Administration.

The main export destinations were Iraq, Germany, Uzbekistan, India, Greece, Vietnam, Kazakhstan, Turkey, Russia, Lebanon, Kuwait, Canada, Qatar, Pakistan, Italy, Afghanistan, China Australia, Spain, Jordan, Bahrain, Hong Kong and the UAE, ISNA reported.  

Last year (March 2015-16) exports stood at 118,000 tons worth over $1.2 billion, which showed a 34% decline in weight and 24% fall in value  compared to the previous year.

Iran along with the US account for 70-80% of the world’s pistachio production. The two countries have been vying for the top producer and exporter spot over the past several years.

A prominent pistachio producer since the 5th century BC, Iran managed to regain the top rank as producer last year for the first time since 2008.

In sharp contrast, the 2015 harvest in California, which accounts for most of the US output, almost halved due to adverse weather.

A total of 500,000 tons of pistachios is expected to be produced by the US and Iran in this crop year, according to former president of Iran Chamber of Commerce, Industries, Mines and Agriculture Mohsen Jalalpour, himself a seasoned pistachio trader.

“A bumper harvest is projected for the US this year. In addition, they have some inventory from last year and would have to reduce their prices,” he was quoted as saying while still in office. Jalalpou resigned from his post as ICCIMA chief last month. A new president will be picked in an election scheduled for September 4.

Financialtribune.com